Vale Terminates Acquisition of Metorex

Mining Review reported that Vale (NYSE:VALE) has backed out of its bid for Metorex (JNB:MEMTX).

The market news is quoted as saying:

The battle for Metorex’s copper and cobalt mines in Zambia and the Democratic Republic of Congo pitted Vale against China’s biggest nickel producer as companies from the largest natural- resource consumers scour Africa for mines.

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