Brazil-based iron ore mining giant Vale has announced that it is planning to establish an iron ore distribution center in China.
Jose Carlos Martins, Vale's executive director for sales, marketing and strategy, said that, although many problems remain to be solved before the setting up of the distribution center, the company will abide by the relevant regulations in China. No details on the possible location of the distribution center were given.
Mr. Martins also added that Vale would consider a listing on Shanghai Stock Exchange when conditions allowed.
He also said that Vale would continue to sell iron ore to China through seasonal contracts in the fourth quarter.