Vale, Dongkuk Partner To Build Brazil Steel Mill

SAO PAULO (AP) -- Brazilian miner Vale SA says it plans to work with South Korean steel maker Dongkuk Steel Mill Co. to build a $4 billion mill in northeastern Brazil.

The two companies signed a preliminary agreement on Wednesday.

A statement from Vale Wednesday said the mill will be able to produce 6 million tons of steel slabs, but a spokesman for the company could not say when production would begin.

Vale is the world's biggest producer of iron ore, a key ingredient in steel and one of the country's top exports.

The mill will be built in Sao Goncalo do Amarante, in the northeastern state of Ceara.

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