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FILL: Brazil's Vale Says Could Work Together With Petrobras On Rare Earths

By Diana Kinch OF DOW JONES NEWSWIRES NOVA LIMA, BRAZIL -(Dow Jones)- Brazilian mining company Vale SA (VALE, VALE5.BR) could work together with state-controlled Petroleo Brasileiro SA (PBR, PETR4.BR) in the area of rare earths, a Vale director said Tuesday. "Petrobras uses rare earths and Vale has reserves (of rare earths)," Vale's human resources and corporate services director Vania Somavilla told reporters at an event in Minas Gerais state. Vale and Petrobras last Friday signed an accord to cooperate on projects in which both have interests, including in fertilizers raw materials, oil, gas and biodiesel. "There's various areas, we're going to put everything on the table" for discussion, Somavilla said. The companies will decide on a "common agenda", she said, adding that no specific joint decision has yet been taken by the companies, Brazil's two biggest by market value. Vale hasn't decided yet if it will sell its various oil and gas assets, she added. Vale could also cooperate with its competitors on the global mining scene, including BHP Billiton and Rio Tinto, in areas including mining sustainability and safety, Somavilla said. The mining business needs "new models", the Vale director said. "We have a chance to improve." -By Diana Kinch, Dow Jones Newswires, Tel 55 21 7564 4495 diana.kinch@dowjones.com

Stock News for Petroleo Brasileiro (PBR)
DateTimeHeadline
03/27/201510:36:08Petrobras Nominates Vale CEO as Its Next Chairman--Update
03/27/201510:10:48Petrobras Nominates Vale CEO as Its Next Chairman
03/27/201510:00:21Petrobras Nominates Vale CEO as Its Next Chairman
03/27/201506:31:30Wall Street Breakfast: Markets Prepare For Yellen Speech
03/26/201518:57:58Petrobras names Rousseff ally as new Chairman
03/26/201513:04:14Brazil Economy to Shrink, Joblessness Rises -- 2nd Update
03/25/201508:16:43Petrobras says second well at Libra field hits oil
03/24/201517:45:13Brazil said to plan oilfield auction to aid ailing industry
03/24/201517:20:36After S&P Ratings Reprieve, Brazil Faces Some Tough Economic...
03/24/201508:40:40S&P cuts Petrobras credit rating outlook to negative
03/24/201502:42:10Skanska's Brazilian Unit Included in Corruption Probe
03/23/201509:12:25Downturn Of The Brazilian Economy
03/23/201503:15:16Brazil's Fire Sale
03/19/201511:00:023 Oil Stocks in Deep Water -- And We're Not Talking Offshore...
03/19/201506:30:42Wall Street Breakfast: Investors Digest Fed's 'Patient-less...
03/19/201503:51:17Rousseff declares war on corruption
03/18/201513:51:42Swiss Authorities Order Freeze of Assets Related to Petrobras...
03/18/201513:40:50EUROPE MARKETS: Oil Shares Help Push Europe Benchmark Higher...
03/18/201513:39:30EUROPE MARKETS: Oil Shares Help Push Europe Benchmark Higher...
03/16/201518:57:10Brazil ruling party's treasurer charged in Petrobras scandal

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