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CVRD to buy AMCI for $661 million

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Brazil CVRD settled an agreement with Australia AMCI for buying the company with US$661 million.

AMCI have total 113.5 million tons of coal per year.

The CVRD's director of new business development, Pedro Rodriges, said, "The acquisition definitively puts CVRD on the map as a coal producer."

CVRD just bought Canadian Inco last year.

CVRD is not only the largest iron ore producer and exporter, it will soon become the second biggest mining company in the world.
News Date 28 Feb 2007 11:41:42 reported by Jessica Tai

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