Brazilian mining giant Vale signs cooperation agreements with Chinese partners

Brazil's mining giant Vale announced its seven cooperation agreements signed with Chinese partners on Wednesday, aiming to cement ties with China, reported Chinanews.com.

The seven agreements relate to Vale's cooperation with China's Taiyuan Iron and Steel (Group) Co., Ltd., Shandong Xinhai Technology Co., Ltd. and Baoshan Iron & Steel Co., Ltd., as well as a memorandum of cooperation with XCMG Machinery (000425. SZ), China's largest construction machinery maker, to jointly develop the world's first large-scale electric grader.

As a partner of China for 50 years and a supplier of raw materials to the Chinese steel industry, Vale has always maintained a long-term commitment to the Chinese market, said Alexandre Silva D'Ambrosio, executive vice president of corporate and external affairs department of Vale.

Vale will continue to supply high-quality iron ore products to China and further deepen partnership with China in areas such as sustainable mining and low-carbon solutions, she added.