Brazil’s Vale and Japan’s Jogmec to survey for metals in Mozambique

Tokyo, Japan, 11 Nov – Brazilian mining company Vale and Japanese state company Japan Oil, Gas and Metals National (Jogmec) have decide to st up a partnership to mine for nickel, copper and platinum in Mozambique, the Japanese company said in a statement published Tuesday.

Under the terms of the partnership agreement, which aims to respond to growing world demand for these metals, Jogmec will pay for the initial costs of exploration whilst Vale will be responsible for prospecting for the metals.

In May 2008, the government of Japan signed a cooperation agreement with Vale for exploration of mining resources in an attempt to increase its access to raw materials.

Jogmec and Vale also have a partnership in an exploration project in Brazil, the statement also noted. Source: macauhub

Published by Hildete Vodopives

Hildete de Moraes Vodopives is founder of Brazil Global and of the Harvard Strategists Group. She has a PhD in Economic History and advises companies and investment agencies in international business development.She served as Corporate Relations Director and later, on the board of the Brazilian Investment Analysts Association (APIMEC).

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