Brazilian miner Vale and Chinese state-run steelmaker Baowu Steel Group signed an agreement this week for the development of strategic projects, according to media reports.
Baowu and Vale will reportedly expand their joint venture (JV) projects and support each other’s supply chains. Both companies also intend to improve the quality of the iron ore they export.
The agreement covers the two companies’ logistics, steelmaking, basic metals, research and technology development areas.