March 8 (Reuters) - Fortescue Metals Group:
* Fortescue memorandum of understanding with Vale S.A.
* Agreement proposes formation of one or more joint ventures for the blending of selected volumes of iron ore from both companies
* Agreement provides a framework for potential investment by Vale in Fortescue
* MOU sets out principles on which Vale and co agreed to pursue long term opportunities to create additional value for customers in Chinese steel industry
* Potential investment through a minority acquisition of shares on market and/or investment in current or future mining assets
Source text for Eikon ID:nASXVwQhR