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Vale seeks larger slice of Belvedere

VALE is seeking Foreign Investment Review Board and other approvals to scoop up private resources company AMCI’s 24.5% stake in the $A2.81 billion Belvedere hard coking coal project in Queensland’s Bowen Basin.

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Vale seeks larger slice of Belvedere

Details about the deal were announced by 24.5% stakeholder Aquila Resources this morning. If the transaction goes ahead, Vale will lift its stake of the future longwall mine to 75.5%. Under the joint...

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