Southern Arc Minerals Inc. (TSXV:SA) announced that, subject to TSX Venture Exchange acceptance, it has entered into an option and joint venture agreement with Vale S.A. , through its wholly-owned subsidiary Vale International S.A., regarding its East Elang and Sabalong properties.
The press release is quoted as saying:
Vale is the world’s largest producer of iron ore, a key raw material for steelmaking, and the world’s second largest producer of nickel. Vale also produces manganese, ferroalloys, thermal and coking coal, bauxite, alumina, aluminum, copper, cobalt, gold, platinum group metals, and fertilizer nutrients, important raw materials for the global industrial and food production industries.
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