Brazilian resources company Vale announced November 19 that it has entered into a Memorandum of Understanding (MOU) with the Export-Import Bank of Korea (KEXIM), a South Korean official credit agency incorporated for providing export and import finance. The MOU aims at extending financial support to Vale's development projects that will contribute to a stable supply of mineral resources to the South Korean market, enhancing, at the same time, the relationship between Vale and South Korean companies.
As previously announced, Vale has already ensured long-term credit lines with official credit institutions of Brazil and Japan, which, also designed to finance Vale's project pipelines, have not yet been utilized so far. |
