| Weaker global commodity prices were creating opportunities for resource-rich nations to find shared solutions, Western Australia’s Mines and Energy Minister Sean L’Estrange said. L’Estrange noted that an agreement announced between iron-ore majors Fortescue Metals and Vale earlier this year, demonstrated how competitors could work together to find innovative solutions to common challenges.
Western Australia’s Fortescue and Brazil’s Vale in March inked a memorandum of understanding under which the two companies would form joint ventures to blend iron-ore products. The new blended product would be developed to suit the long-term needs of Chinese steel customers, and improve the efficiency of the supply chain to the steel industry...............................................Full Article: Source
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