Anglo American PLC says it notes the announcement by Vale SA on 28 December and confirms that Anglo American and Vale have had preliminary discussions about the potential to jointly develop Vale’s Serpentina iron ore resource that is next to Anglo American’s integrated Minas-Rio iron ore operation in Brazil. It adds: “These discussions are preliminary in nature and there can be no certainty that any agreement will be reached or, if any agreement is reached, on the terms or scope of any such agreement.”

Vale had clarified that it has had preliminary discussions with Anglo American “on the possibility to develop, through partnership, the mineral resources of the Serpentina project, held by Vale, aiming to leverage from existing processing and logistics infrastructure at Minas-Rio and Vale’s operations.” The Serpentina Project is located in the municipalities of Conceição do Mato Dentro, Santo Antônio do Rio Abaixo and Morro do Pilar, in the state of Minas Gerais, and comprises mining rights contiguous to Anglo American’s Minas-Rio operation.