Brazil iron ore producer Vale and the Japan Bank for International Cooperation (JBIC) have signed a memorandum of understanding (MoU) on operational cooperation, according to media reports.
The deal would strengthen a long-term partnership between Vale and one of Japan's leading financial institutions.
Under the agreement, both Vale and JBIC will discuss the possibilities of future financing to support the company's businesses in the areas if iron ore, coal and base metals.