Since the beginning of May, this year’s edition of the World’s Fair has called Shanghai; China, its home. Set to close at the end of October,the Expo is expected to draw 70 million visitors by that time, making it the most visited Expo in history. And, with 190 countries and upwards of 50 international organizations participating, it is also the largest ever. From the beginning, Vale has been there, taking part and making history.
On August 27, Vale Global Strategic Procurement hosted a supplier workshop with the hopes of establishing some common ground for advancing business relations with Chinese suppliers and to introduce Vale principles and procedures. Topics presented during the workshop included the Vale Supplier Code of Conduct; Procurement Process Flow Overview; and Contract Management.
Vale’s vested interest in building not just economic but also social relationships within the communities it operates is best exemplified by two events the mining company recently hosted at the Brazilian Pavilion.
Vale and China
The official sponsor of the Brazilian Pavilion, Vale’s participation in this event was never in doubt. China has been a key market for the company since 1974, when it first supplied iron ore to the country.
Over the last decade, Vale’s annual iron ore sales to China have increased from 14 million metric tons to more than 118 million metric tons, fueling the growth and rapid development of this economic heavyweight. Vale’s investment over this time to meet Chinese industry demands is estimated to be US$20 billion.