China Investment Corp (CIC), the $814-billion sovereign fund, is leading a Chinese investor group in talks for a multibillion-dollar iron-ore streaming deal with Brazil’s Vale, people familiar with the matter said.
The consortium is negotiating the potential purchase of a portion of Vale’s future iron-ore output for as long as 30 years, two of the people said, asking not to be identified as the information is private. Vale could fetch about $9-billion upfront from the sale, one person said. No agreements have been reached, and the talks may not result in a transaction, according to the people.
