China’s 2023 iron ore imports hit a record high on rising demand
The world's largest iron ore consumer brought in a total of about 1.18 billion metric tons in the past year.
Brazilian iron ore miner Vale (NYSE: VALE) said on Friday that it was buying back a 36.4% stake in its MBR production and transport unit from asset manager Bradesco BBI for 3.3 billion reais ($804.45 million), more than four years after selling it.
The deal leaves Vale holding a 98.3% stake in MBR, which accounted for the production of about 59 million tonnes of iron ore last year.
($1 = 4.1022 reais)
(By Christian Plumb; Editing by Sandra Maler)
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