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Vale and Glencore have broken off talks over combining their nickel assets in Canada in a deal that could have produced over $1-billion in annual cost savings, sources close to the matter said.
The discussions over linking the two companies' neighbouring nickel mining and processing facilities in the Sudbury basin in south-east Canada broke down partly due to disagreement over how to share the costs and savings and to worries about government and labour union reaction to potential job cuts and shutdowns, the sources said.
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