China’s Qingdao Port Group last week signed a memorandum on strategic co-operation with Brazilian metals and mining company Vale SA, several Mainland Chinese media outlets reported.
The deal centres on the use of the Dongjiakou Port Area of Qingdao in the Mainland’s Shandong Province. Both parties would seek actively to expand Vale’s capability with regard to unloading, deconsolidating and storing iron ore at the port, according to media reports citing the memorandum signed.
The memorandum was signed following a meeting between Qingdao Port chairman Zheng Minghui and representatives from Vale in the latter’s headquarters. Vale’s representatives included the company’s president and chief executive officer, Murilo Ferreira. Mr Zheng paid a visit to Rio de Janeiro last week with a delegation from Qingdao. It was led by the city’s mayor Zhang Xinqi.
