Brazil's Vale to sell stake in Oman pellet plant | Reuters

Brazilian mining giant Vale on Saturday said it has agreed to sell a 30 percent stake in an iron pellet plant in Oman with 9 million tonne annual output to the Oman Oil Company (OOC) for $125 million.

Vale (VALE.N)(VALE5.SA), the world's largest iron ore miner, said the Vale Oman Pelletizing Company is slated to begin production in the second half of 2010.

The plant is part of an industrial logistics center located in the Sohar Industrial Port Complex in Oman, Vale said.