Fortescue sees Vale ore blending plan completed in near future

Fortescue Metals Group Ltd. is optimistic its iron ore blending project with Brazil’s Vale SA, the world’s top iron ore exporter, may be completed soon as better demand in China supports a price rally this year. “We’ve completed a lot of laboratory test work and that has been very positive and we are now working on a technical and commercial solution,” Fortescue Chief Executive Officer Nev Power said Wednesday in an interview with Bloomberg Television. “We are hopeful of coming up with a finalized plan for that in the near future.”