JBIC Signs MOU with Vale S.A. in Brazil for Business Cooperation
Supporting Securing of Mineral Resources and Infrastructure Development
- Region: Latin America and the Caribbean
- Energy and Natural Resources
The Japan Bank for International Cooperation (JBIC; Governor: Akira Kondoh) signed on April 4(Rio de Janeiro time) a memorandum of understanding (MOU) for business cooperation with Vale S.A. (VALE) in Brazil, one of the world's major resource companies.
VALE is a world leading supplier of mineral resources such as high-quality iron ore, nickel, and cobalt. VALE also operates rail and other infrastructures in Brazil and third countries and has established excellent and long-standing business relationships with Japanese companies. JBIC has so far provided several loans for projects in which VALE is involved*1
and has exchanged opinions and engaged in discussions with VALE about their projects on a regular basis.
VALE continues to develop iron ore and non-ferrous metal mines in Brazil and third countries, and promote business in the field of mineral resources-related infrastructure development and rail freight transportation. In light of such continued development, Japanese companies are expected to expand and diversify opportunities to collaborate with VALE in those business areas. With the signing of this MOU, JBIC will further develop a closer relationship and alliance with VALE. Furthermore, JBIC will strive to contribute to a stable supply of mineral resources to Japan, as well as creating opportunities for Japanese companies to make overseas investments or export equipment from Japan.
As a Japanese public financial institution, JBIC will continue to support Japanese companies in developing and acquiring mineral resources overseas and promoting their business in close collaboration with key business partners such as VALE for mineral resources and infrastructure development projects.