Vale informs on Memorandum of Understanding with CCCC and Concremat

About Vale

5/23/2019

Vale informs on Memorandum of Understanding with CCCC and Concremat

​​Vale informs that it will sign a Memorandum of Understanding to support the financial structuring of a project to be developed by Concremat/CCCC (China Communications Construction Company) of a flat rolling steel mill in Marabá, state of Pará.

According to the Memorandum of Understanding, Vale will support the project through the issuance of guarantees that will enable the financing to be contracted by Concremat/CCCC, in amounts to be agreed in due course and below the value of the total investment. This type of support is efficient for minimizing Vale's financial commitment, in line with our strategic pillar of efficient capital allocation.

The Memorandum of Understanding reinforces Vale's commitment and strengthens the support to our license to operate in the state of Pará, in line with the strategic pillar of creating a new pact with society and focusing on becoming a local economic development enabler.

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Vale informs on Memorandum of Understanding with CCCC and Concremat