Russia’s Putin Discusses Bilateral Ties, BRICS with India’s Modi in Phone Call

 India's Prime Minister Narendra Modi greets as he leaves after attending the third day of the three-day B20 Summit in New Delhi on August 27, 2023. (AFP)
India's Prime Minister Narendra Modi greets as he leaves after attending the third day of the three-day B20 Summit in New Delhi on August 27, 2023. (AFP)
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Russia’s Putin Discusses Bilateral Ties, BRICS with India’s Modi in Phone Call

 India's Prime Minister Narendra Modi greets as he leaves after attending the third day of the three-day B20 Summit in New Delhi on August 27, 2023. (AFP)
India's Prime Minister Narendra Modi greets as he leaves after attending the third day of the three-day B20 Summit in New Delhi on August 27, 2023. (AFP)

Russian President Vladimir Putin discussed bilateral ties including trade, energy and space cooperation with Indian Prime Minister Narendra Modi by phone, the Kremlin said on Monday.

The two leaders also discussed the planned expansion of the BRICS group of emerging economies - comprising India, Russia, China, Brazil and South Africa - as well as a summit of the G20 club of major economies that New Delhi will host next month.

Russia has sought to further strengthen already warm ties with India after its invasion of Ukraine in February 2022 triggered sweeping Western sanctions on Moscow. India is a major buyer of Russian oil.

"Topical issues of Russian-Indian relations, which are progressively developing in the spirit of a particularly privileged strategic partnership, were considered (in the call)," the Kremlin said in a statement.

"The positive dynamics of trade and economic cooperation was affirmed," it added.

Last week Modi and Putin both took part in the BRICS summit in South Africa, though the Russian leader attended only via video link because of an International Criminal Court (ICC) arrest warrant for him over alleged war crimes in Ukraine.

The Kremlin, which strongly denies the ICC allegations, has said Putin will also not attend the G20 gathering in India.

Both Russia and India launched lunar probes this month, but only the Indian one landed successfully on the moon while the Russian craft crashed.



Vale Partners with China’s Jinnan Steel to Build Iron Ore Processing Plant in Oman

The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)
The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)
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Vale Partners with China’s Jinnan Steel to Build Iron Ore Processing Plant in Oman

The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)
The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)

Brazilian miner Vale, one of the world's largest iron ore producers, said on Monday it had partnered with China's Jinnan Steel Group to build an iron ore beneficiation plant in Oman to produce high quality pellet.

With the front-end investment exceeding $600 million, the plant, which will be located in Oman's Sohar port and free trade zone, will provide higher quality iron ore for producing pellet and hot briquetted iron (HBI) locally, reducing environmental impact, Vale said in a statement on its WeChat account.

The Sohar plant is scheduled to start commissioning in mid-2027, processing 18 million metric tons of iron ore annually to produce 12.6 million tons of high grade concentrate, it said.

"We are strengthening our capability to meet rising global demand for high grade iron ore and further expand our exposure in the Middle East region," said Gustavo Pimenta, chief executive officer (CEO) at Vale.

Vale will invest $227 million for the connection of the beneficiation plant and the pellet and HBI production facility while Jinnan Steel, a private steelmaker headquartered in north China's Shanxi province, will invest about $400 million for the building and the operation of the plant.

Vale did not disclose the equity share held by each party.