The two companies have been mired in disputes, which centre around coal marketing arrangements from the Isaac Plains mine in Queensland and valuations of the Belvedere project.

“I think there’s a real opportunity for Aquila and Vale to sit down and work out their differences and move forward, and we’re happy to have those discussions as we have been for some time,” Poli told ILN.

“It’s a turning point for the relationship between Vale and Aquila, and I like to think with Decio leaving, I wish him the best, but it will also provide a platform for discussions between Vale and Aquila and how they can corporate and move forward.”

In March 2010, Aquila took Vale to Court seeking unspecified damages for defaulting on a JV agreement committing to infrastructure arrangements for the Eagle Downs coal mine in Queensland.

In September 2010, Vale took Aquila to the Supreme Court of Queensland to contest an independent valuation of the Belvedere hard coking coal mine provided by Perth-based Aquila as part of the JV agreement.

In June 2011, Vale’s push to pay less than $US100 million for Aquila Resources’ 24.5% stake of the $2 billion-plus Belvedere hard coking coal project was set back after a Queensland Supreme Court ruling.

In the same month Vale Australia ended an arrangement for joint marketing the mine’s coal with Aquila subsidiary IP Coal.

In July this year, Vale and Aquila Resources reached a short-term agreement to restore coal shipments from Isaac Plains after the marketing dispute caused the loss of coal sales from the mine.

“There have been a lot of disputes over the last 18 months and we’re certainly amenable with having discussions and going forward,” Poli said

“There’s an opportunity now to look with fresh eyes with a view of how we might move forward.

“Clearly their coal performance has not been ideal and there’s now an opportunity for fresh eyes and new thoughts.”