Brazilian iron ore miner Vale (NYSE: VALE) said on Friday that it was buying back a 36.4% stake in its MBR production and transport unit from asset manager Bradesco BBI for 3.3 billion reais ($804.45 million), more than four years after selling it.

The deal leaves Vale holding a 98.3% stake in MBR, which accounted for the production of about 59 million tonnes of iron ore last year.

($1 = 4.1022 reais)

Fonte: Mining.com