Tag: BSG Resources (Guinea) Ltd

Vale SA has acquired a 51% interest on BSG Resources (Guinea) Ltd, from BSG Resources Ltd, which indirectly holds iron ore concession rights in Guinea, in Simandou South (Zogota), and iron ore exploration permits in Simandou North and Blocks 1 & 2. In an all cash transaction, Vale will pay USD 2.5 billion, of which USD 500 million is payable immediately and the remaining USD 2 billion on a phased basis upon achievement of specific milestones.