The Japan Bank for International Cooperation (JBIC) announced on Jul 17 that it signed memorandum with Brazilian resources company Vale on cooperation aiming project realization for the securing and stable supply of mineral resources.|
Vale is the world's leading mineral resources supplier with high quality iron ore which has built cooperative relationship with Japanese steel producers over many years. JBIC has provided financing to Vale for a several times and has exchanged opinions on a regular basis.
In recent years, the needs for long-term fund are rising due to the growth in size of such projects as the development of mineral resources such as iron ore and coking coal or related infrastructure project. JBIC aims at stronger cooperation relationship building with Vale through this memorandum and contribution to securing and stable supply of mineral resources by Japanese companies through financial means.