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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
04/17/201511:25:15Petroleo Brasileiro Petrobras SA Rating Reiterated by Morgan...
04/16/201510:50:16Brazil's Grupo OAS Seeks Protection of U.S. Court
04/16/201510:27:30Brazil's Grupo OAS Seeks Protection of U.S. Court
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04/13/201518:09:28ADR Shares End Lower; Alcatel-Lucent, Nokia Shares Rise
04/13/201503:01:14Subsea 7 Gets $200 Million Petrobras Contract
04/10/201514:26:37Royal Dutch Shell plc's $70 Billion bet on LNG: Bull vs. Bear
04/10/201511:20:09Former Brazil Lawmakers Arrested in Petrobras Probe
04/09/201517:49:31ADR Shares End Higher; Petrobras Shares Rise
04/08/201512:53:49Petrobras, Brazil pre-salt seen benefiting from Shell-BG deal
04/08/201512:20:14Brazil Probes Alleged Corruption Among Tax Officials
04/07/201517:30:06Brazil Probes Alleged Mass Tax Fraud
04/06/201519:28:40ADR Shares End Higher; BHP Billiton Rises
04/06/201510:54:40Petrobras scandals sparks more investor lawsuits

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