The memorandums will see the two Japanese organisations co-operating in lending and insurance operations for selected projects contained within the investment plan of the Brazilian mining company, with the JBIC considering financing capped at US$3bn and Nexi insurance coverage not exceeding US$2bn.
The agencies will give priority to projects undertaken by Vale that assist the business development of Japanese companies and have included provisions in the memorandums for periodic consultations to be held to advance this strategy.
Vale is the world's largest iron ore supplier and a major iron ore producer and is planning a global resource development programme.









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