April 2, 2021 |
Brazilian mining company Vale has signed on a $960 million loan with the Japan Bank for International Cooperation (JBIC) and a group of private financial institutions to finance iron ore exports, JBIC said in a press release.
JBIC will cover $480 million of the total loan, "intended to provide the funds required for Japanese blast furnace manufacturers to stably import high-quality iron ore from Vale," the export credit agency said.
"The demand for iron ore is increasing on a global level with t
Brazilian miner borrows $960 mln from JBIC and commercial banks to supply blast furnace manufacturers