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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
04/22/201608:40:00BTG Pactual Sells 2 Insurance Stakes to French Insurer
04/18/201609:10:00Statoil: Positive Production Test of Gavea Appraisal Well in...
04/15/201616:00:00Politician Who Wants to Impeach Brazil's President Has His Own...
04/15/201615:50:00Brazil Assets Are Attractive as Companies Try to Cut Debt
04/15/201603:54:00Aker Solutions Gets $125 Million Subsea Services Pact From Petrobras
04/13/201614:00:00Brazil's Economy Tanks as Political Upheaval Looms
04/07/201611:30:00Brazil Bank Says Its Probe of Ex-CEO Finds No Basis to Corruption...
04/07/201607:00:00Swiss Banks at Risk of Harboring Corruption Proceeds, Says Regulator
04/04/201617:56:00ADRs End Mosly Lower; Brazilian Companies Trade Actively
03/24/201611:00:00Oil Prices Extend Fall as Stockpile Worries Resurface
03/21/201609:10:00Portugal Arrests Suspect in Petrobras Probe
03/21/201609:03:00Portugal Arrests Suspect in Petrobras Probe
03/17/201613:30:00Switzerland to Return $70 Million From Banks as Part of Petrobras...
03/17/201613:16:00Switzerland to Return $70 Million From Banks as Part of Petrobras...
03/16/201617:20:00In Gambit, Brazil's Embattled President Names da Silva to Cabinet
03/05/201617:55:00One Worker Injured in Fire at Petrobras Unit's Refinery Near...
03/02/201617:18:00Brazilian Shares Rise as Vale Gains, Real Strengthens Against...
02/29/201618:41:00ADRs End Mixed; Vale, Petrobras Rise
02/26/201619:06:00Brazil's Petrobras Signs Pact for $10 Billion in Loans From China
02/25/201619:50:00Bill to Open Brazil's Offshore Oil Fields to Foreigners Still...

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