SAO PAULO, Jan 3 (Reuters) - Vale SA VALE3.SA is in talks with BHP Billiton (LON:BLT) Ltd BHP.AX over the future of their joint venture, Samarco Mineração SA, and one alternative is for the Brazilian miner to buy out its partner, a source with knowledge of the matter said on Wednesday.
A price has not been yet established for any buyout, according to the source, who spoke on condition of not being named. Bloomberg reported the talks earlier on Wednesday.
Contacted by Reuters, Vale declined to comment. BHP Billiton did not immediately reply to requests for comment.