Brazil's Vale wants to be part of U.S. steel recovery -CEO

SAO PAULO Tue May 7, 2013 3:40pm EDT

SAO PAULO May 7 (Reuters) - Brazil's Vale SA, the world's biggest iron ore miner, wants to participate in the recovery of the U.S. steel industry, which has become competitive due to the use of shale gas, the mining company's chief executive said on Tuesday.

Growth in the United States presents an opportunity for Vale to reduce its dependence on Chinese demand, Vale CEO Murilo Ferreira told a gathering of executives and government officials sponsored by a Brazilian magazine.

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