The official news agency of Oman reported today, Tuesday, that Brazil’s Vale Mining has announced the purchase of Okio Group’s 30% stake in iron ore pelletizing company Vale Oman.

OQ Oman, formerly known as Oman Oil Company, bought a stake in Vale Oman in 2010.

According to the Omani News Agency, Vail Oman became a wholly foreign company after the acquisition.

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