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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
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10/21/201418:31:31ADR Shares End Mixed; ARM Holdings Shares Trade Actively
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10/05/201420:02:54Brazil's Presidential Race Headed for Runoff -- 3rd Update
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10/02/201408:27:16Dof Gets Contract For Skandi Hav Vessel From Petrobras
09/30/201418:03:23ADR Shares End Lower; America Movil, HSBC Shares Trade Actively
09/29/201417:44:48ADR Shares End Lower; Petrobras, Itau Unibanco Trade Actively
09/29/201403:47:20Dof's Skandi Santos Vessel Gets Five-Year Contract Extension
09/26/201420:04:31ADR Shares End Higher; Petrobras Shares Trade Actively
09/23/201418:17:35ADR Shares End Lower; AstraZeneca, Shire Shares Trade Actively
09/15/201405:10:00Aker Solutions Gets $465 Million Contract Offshore Brazil

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