Vale bolsters case for takeover of BHP JV with acquisition

Vale’s latest acquisition bolsters the argument it has raised for taking complete control of the shuttered Brazilian iron-ore mine that it owns with BHP Group.

Vale announced on Tuesday the purchase of technology firm New Steel for $500-million as it aims to boost output of high-grade iron-ore products that have been fetching premium prices. New Steel owns technology capable of improving both production and waste storage at mines just like the Samarco joint venture with BHP.