Mr Fabio Barbosa CFO of Cia Vale do Rio Doce said that he sees no reason to resume talks after a bid to buy Xstrata Plc failed.

Mr Barbosa during a meeting with analysts said that in Sao Paulo that neither Vale nor Xstrata have changed their positions since negotiations collapsed.

Mr Barbosa said that “We did not manage to reach, despite efforts by both parties, a solution that was mutually satisfactory. We haven't held any talks about it. The issue for us stands where it stood when we announced the end of discussions back in March. We have no reason to talk again.''

On March 26th 2008, talks between Vale and Xstrata broke down, ending a bid to create the world's largest mining company. Mr Roger Agnelli CFO of Vale said that time that negotiation failed because of the demands of Xstrata's biggest shareholder, Glencore International AG.