(Bloomberg) -- Cia. Vale do Rio Doce, the world's largest iron ore exporter, restarted talks with Baosteel Group Corp. on a steel slab plant in Brazil that may cost as much as $4 billion after a pro-industry party won a state election.
Baosteel, China's biggest steelmaker, will provide 80 to 90 percent of the funding for the $3 billion to $4 billion proposed plant in Maranhao province, Pedro Gutemberg, director of ferrous technology at Vale, said today in an interview in Beijing.
Read more at Bloomberg Emerging Markets News
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