The kingdom will spend US$2.6bil (RM11.7bil) to buy the 10% holding through a venture between its sovereign wealth fund and state mining company, Maaden. — Bloomberg
RIYADH: Saudi Arabia has made the first big deal in a push to deploy its vast wealth into the global mining industry, agreeing to buy a stake in Vale SA’s base metals unit.
The kingdom will spend US$2.6bil (RM11.7bil) to buy the 10% holding through a venture between its sovereign wealth fund and state mining company, Maaden.
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