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Vale says not discussing fertilizer unit stake sale with Yara

on April 6 rejected a mediareport which stipulated that the Brazilian mining giant was in talks to sell a stakein its fertilizer business to Norway's YaraInternational ASA.

The responsecame after Brazilian daily Valor Econômicoreported that Vale may sell a minority stake in its fertilizer unit later thisyear, with unnamed sources valuing the deal at US$1.2 billion, Reuters wrote.

YaraInternational also denied holding any talks with Vale but said it plans to stepup investments to expand its business, as well as to improve competitiveness.