January 3, 2018 / 8:16 PM / a year ago

Vale is negotiating BHP exit from Samarco venture -source‍​

SAO PAULO, Jan 3 (Reuters) - Vale SA is in talks with BHP Billiton Ltd over the future of their joint venture, Samarco Mineração SA, and one alternative is for the Brazilian miner to buy out its partner, a source with knowledge of the matter said on Wednesday.

A price has not been yet established for any buyout, according to the source, who spoke on condition of not being named. Bloomberg reported the talks earlier on Wednesday.

Contacted by Reuters, Vale declined to comment. BHP Billiton did not immediately reply to requests for comment.‍​

Reporting by Tatiana Bautzer in Sao Paulo, Marta Nogueira in Rio de Janeiro and Ismail Shakil in Bangalore; Editing by Leslie Adler

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