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Fortescue Sees Vale Joint Venture Completed in Near Future

  • Much laboratory test work completed: Fortescue CEO Power
  • Producer says now sits at end of iron ore’s global cost curve

Fortescue Metals Group Ltd. is optimistic its iron ore blending project with Brazil’s Vale SA, the world’s top iron ore exporter, may be completed soon as better demand in China supports a price rally this year.

“We’ve completed a lot of laboratory test work and that has been very positive and we are now working on a technical and commercial solution,” Fortescue Chief Executive Officer Nev Power said Wednesday in an interview with Bloomberg Television. “We are hopeful of coming up with a finalized plan for that in the near future.”