SAO PAULO, Feb 6 (Reuters) - Brazilian miner Vale

confirmed on Thursday it has bought the 50% stake in

its Baovale tie-up previously owned by its Chinese partner

Baoshan Iron & Steel, known as Baosteel, a move that gives Vale

full control of the iron ore project.

The Baovale joint venture was established by the

Brazilian mining giant and Baosteel in 2001 to run the Agua

Limpa mine in Brazil's Minas Gerais state. The venture included

a purchase option allowing for the possibility of Vale acquiring

the stake owned by Baosteel.

Last year, Vale informed Baosteel that it sought to

exercise the purchase option, the Brazilian miner said in a

statement. It added that the purchase deal with Baosteel has

been signed, but did not disclose how much it paid for the

stake.

The transaction must still be approved by Brazil's

antitrust watchdog CADE.

Earlier on Thursday, newspaper Valor Economico reported that

in last year's third quarter, Vale disclosed a value of 135

million reais ($23.4 million) for the 50% stake.

($1 = 5.7758 reais)