- Region: Latin America and the Caribbean
- Energy and Natural Resources
- Others
July 17, 2013
- The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed on July 16 (Rio de Janeiro time) a memorandum of understanding (MOU) with Vale S.A. (VALE) in Brazil, as one of the world leading Resources Majors, focusing on main points of business collaboration for the realization of the project that contributes to securing stable supply of mineral resources to Japan.
- VALE is a world leading supplier of high quality iron ore and mineral resources, and has built good and long business relationships with Japanese companies. JBIC has provided multiple loans to date, and has been exchanging opinions and discussions periodically with them.
- In recent years, the needs for long-term financing is increasing as projects of iron ore and coking coal mining and related infrastructure development are being scaled up, and the business opportunities to participate in those projects by Japanese companies is expected to increase and diversify. Under these circumstances, JBIC contributes to securing a stable supply of mineral resources to Japan and supporting further strengthening of the conventional partnership with VALE through this MOU.
- As a public financial institution, JBIC will continue to support the development and acquisition of mineral resources by Japanese companies, through such business collaboration with close and important partners, including VALE, in mineral resources development projects and related infrastructure projects.