Newspaper Valor Economico reported on Wednesday that Mr Roger Agnelli the former chief executive of Brazilian mining giant Vale SA, will soon announce a new mining company in partnership with investment bank BTG Pactual.

Mr Agnelli, who helped turn Vale into the world's largest iron ore miner, was forced out of the company last year under government pressure and formed the investment company AGN Participaçoes.

The new mining venture, to be led by Mr Agnelli and former associates from Vale, will begin by acquiring exploratory projects from smaller miners in Brazil and abroad, Valor reported, without citing sources.

Source - Thomson Reuters

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