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