In late 2006, just a few weeks after Vale, the Brazilian mining group, bought Inco, the Canadian nickel miner, for $17.6bn, a meeting between executives of the two companies hinted at a potentially difficult future.
According to a former Inco exec-utive, the session ended abruptly with one of the Brazilians losing his temper. "How come, if you're so smart, you didn't take us over?" he snap-ped.
Worse was to follow. A succession of senior Canadian managers as well as key engineers and operating staff walked out the door. Another former Inco executive says that of 29 colleagues who took part in a senior management strategy session in early 2007, only six remain.
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