Brazil
News

Korea to consider up to US$2bn in financing for Vale

Bnamericas Published: Friday, April 24, 2015

Brazilian mining giant Vale signed an MOU with South Korea's Eximbank (KEXIM) to support business development and strengthen partnerships with Korean enterprises.

The signing ceremony was witnessed by Brazilian President Dilma Rousseff and Korean President Park Geun-hye in Brasília on Friday.

Vale said in a release that the MOU will aid cooperation between the two parties, and KEXIM will consider providing for up to US$2bn in financing to support Vale's projects.

"The purpose of the MOU is to set out general principles for this cooperation, further promoting the relationship between Vale and Korean enterprises," Vale said.

In December, KEXIM announced the provision of US$1.3bn in financing for Brazil's Companhia Siderúrgica do Pecém (CSP) integrated steel mill being built in Ceará state.

The US$4.3bn CSP steel plant is the largest private sector project being developed in Brazil. Vale holds a 50% stake in CSP, while Korean steelmakers Dongkuk and Posco hold 30% and 20%, respectively.

To continue reading, subscribe to BNamericas to get all the information in this article and access to related news items and reports.

Subscribe to BNamericas and gain access to thousands of project profiles, key contacts and news.

Other projects in: Mining & Metals (Brazil)

Get critical information about thousands of Mining & Metals projects in Latin America: what stages they're in, capex, related companies, contacts and more.

  • Project: Santa Luz
  • Current stage: Blurred
  • Updated: 1 month ago
  • Project: Almas
  • Current stage: Blurred
  • Updated: 2 months ago
  • Project: Pedra Branca
  • Current stage: Blurred
  • Updated: 2 months ago
  • Project: Santa Helena
  • Current stage: Blurred
  • Updated: 2 months ago
  • Project: Cajueiro
  • Current stage: Blurred
  • Updated: 2 months ago
  • Project: Apiacás
  • Current stage: Blurred
  • Updated: 2 months ago
  • Project: Lima
  • Current stage: Blurred
  • Updated: 2 months ago
  • Project: Borborema
  • Current stage: Blurred
  • Updated: 2 months ago

Other companies in: Mining & Metals (Brazil)

Get critical information about thousands of Mining & Metals companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: CSN Mineração S.A.  (CSN Mineração)
  • CSN Mineração is a mining subsidiary of the Brazilian steel conglomerate CSN. The company produces iron ore, an activity that it carries out in the municipalities of Congonhas, ...
  • Company: Agência Nacional de Mineração  (ANM)
  • Agência Nacional de Mineração (ANM) is a Brazilian federal agency created in 2017 and linked to the Ministry of Mines and Energy that is in charge of regulating, granting licens...