Brazilian miner and iron ore producer Vale said late this week it will supply 750,000 mt of iron ore to Mitsui & Co.
Vale said Mitsui has a 5.42 percent stake in the company, and the contract is valid for the period of February to December 2021.
Vale said the total value of the contract will depend on iron ore prices, the BRL/USD currency exchange rate and the volumes sold as Vale ships the product within the period.