Main mine union accepted an adjusted contractual offer, which marks the end of the negotiation process and removes the threat of a strike.
Mitsui Mining News
The sale of Vale stakes has been a subject of market speculation since the world's largest iron ore miner moved to a single class of stock in October. Mitsui currently holds a 5.51 percent stake in Vale.
The mine, behind schedule ever since it began producing in May 2014, has been affected by a series of technical problems in its ramp-up phase, costing its owners hefty impairment charges.
The mine, which began producing in May 2014, has suffered a series of technical problems in its ramp-up phase.
The firm created a new division in April to evaluate deals in those areas, and in the past six months has made mining infrastructure-related investments in the U.S. and Africa.
Mitsui, which since 2003 is part of the holding group that controls Vale, is expanding partnerships with the world’s largest iron-ore miner.
The miner confirmed Friday it is in talks “with a potential investor,” but did not name its counterpart.
Japan already allocates 90% of its investment in Chile to mining.
Follows signing of FTA seen as major opportunity for Australian miners.