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(Bloomberg) -- Saudi Arabia has made the first big deal in a push to deploy its vast wealth into the global mining industry, agreeing to buy a stake in Vale SA’s base metals unit.Most Read from BloombergSubway Offers Free Sandwiches That Come With a Lifetime CommitmentLargest US Grid Declares Emergency Alert For July 27US 10-Year Yield Hits 4% as BOJ Worry Lifts Yen: Markets WrapFed Raises Interest Rates to 22-Year High, Leaves Door Open for MoreUS Growth Accelerates to 2.4% on Resilient Consume

Both Qatari and US firms have reportedly submitted technical and commercial offers and expressed interest in investing in Iraq's gas sector.

Barrick Gold Corp. produced 1.01 million ounces of gold and 107 million pounds of copper in the second quarter, including 458,000 ounces of gold from its share of Nevada Gold

The recently closed relationship deal between Iran and Saudi Arabia may pave the way for Saudi Aramco to start a number of large and highly profitable projects in Iraq

Upstreamonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from upstreamonline.com Daily Mail and Mail on Sunday newspapers.