Anglo Ferrous Brazil S.A., formerly known as IronX Mineracao S.A. (BOVESPA: IRON3), informs its shareholders that Anglo American Participacoes em Mineracao Ltda. (the “Offeror”), a wholly owned subsidiary of Anglo American plc, announced today that it has commenced a tender offer to purchase any and all of the outstanding common shares, no par value (including [...]

Brazil’s Petrobras says that a second well in an offshore Santos Basin block confirms the presence of light oil.
Petrobras says the well found another reserve of light oil near the previously announced Carioca discovery. The discovery came in the ultra-deep waters almost 200 miles off the coast of Sao Paulo state.
The find was made [...]

Brazil’s Petrobras continues its recent string of oil discoveries. A test well in the prolific offshore Santos Basin confirmed the presence of light oil.
Unlike other recent offshore discoveries that lie in very deep water, this one is in the relatively shallow waters in the southern part of the basin and may not be as difficult [...]

Vale , the world’s largest iron ore miner, said on Tuesday that talks aimed at buying Swiss rival Xstrata had failed and that Vale would look at other potential takeover targets.
“Given that an agreement was not reached, discussions between the parties have been discontinued,” Vale said in a statement to the local market regulator. Vale [...]

Cia. Vale do Rio Doce, the world’s largest iron-ore producer, said Eregli Demir ve Celik Fabrikalari TAS, Turkey’s only maker of flat steel products, agreed to pay more for iron ore in 2007.
The Zonguldak, Turkey-based steelmaker will pay 9.5 percent more for iron ore and 5.28 percent more for pellets shipped through the ports of [...]

Ricardo Malavazi, investment director of Fundacao Petrobras de Seguridade Social, Brazil’s second- largest pension fund, said mining, steel and agriculture stocks remain attractive in the medium and long-term.
“These sectors are very competitive and will likely remain so in the next ten years,” Malavazi said in an interview in Sao Paulo.
The pension fund for Petroleo Brasileiro [...]

Brazil’s 2007-08 ethanol exports could slip to 2.5 billion liters, down about 20% from an estimated 3.1 billion liters this season, as the U.S. begins to sell ethanol abroad next year due to excess stocks, the president of sugar consultancy Datagro said Friday.
This year, the U.S. has been Brazil’s principal buyer of ethanol, in large [...]

Cia. Vale do Rio Doce, the world’s largest iron-ore producer, plans to raise output 12 percent with the opening today of a $1.1 billion mine in Brazil, helping to meet soaring Asian demand for the main steel ingredient.
The Brucutu mine in Sao Goncalo do Rio Abaixo, 92 kilometers (57 miles) from Belo Horizonte, in Brazil’s [...]