Vale owns 30% of that 1, 087 megawatt power station with Tractebel, a subsidiary of GDF Suez.

FORBES: Agnelli Gone, Will Vale Join Amazon Dam Project?

This week Philippe Bodson, Tractebel's rebellious chief executive, ended a long trial of strength with Suez by offering his resignation.

ECONOMIST: Tractebel the intractable

And yet Tractebel has been a pain in the neck to own.

ECONOMIST: Tractebel the intractable

The power unions' proudest moment so far was wringing a ten-year moratorium on layoffs from Belgium's Tractebel in 2000 when it bought a stake in the Polaniec power plant.

ECONOMIST: Polish trade unions