CIC leads Vale talks to secure iron ore supplies

Chinese consortium negotiating buying portion of future production for as long as 30 years

China Investment Corp, the $814 billion sovereign fund, is leading an investor group in talks for a multibillion-dollar iron ore supply deal with indebted Brazilian miner Vale SA, people familiar with the matter said.

The Chinese consortium is negotiating the potential purchase of a portion of Vale's future iron ore output for as long as 30 years, two of the people said, asking not to be identified as the information is private.