On December 2nd local time, Vale announced that the prerequisites have been met and a partnership has been established with Anglo American Resources. As a result, Vale has acquired a 15% stake in Anglo American Min é rio de Ferro Brasil S.A., which currently owns the Minas Rio integrated operations area. With the completion of the transaction, Anglo American will now own the Serra da Serpentina assets in Brazil, which were originally owned by Vale. According to the terms of the agreement, in addition to contributing assets to the Selbantina Range, Vale also paid $30 million to Anglo American. Anglo American Resources will continue to control, manage, and operate the Minas Rio integrated operating area, including any future expansion.