Yantai Port in northern China and the Brazilian miner Vale have signed a so-called strategic cooperation framework to promote the sale of Vale’s iron ore. According to an official statement from Yantai Port, the port and the miner will work together to find “innovative ways” to promote iron ore sales.
Yantai Port boasts an iron ore terminal and “specialised equipment” for handling large ore carriers. The port adds that it expects to become the main production port for Vale’s “BRBF” blend of iron ore in markets such as Japan, South Korea and Taiwan. Vale has been blending iron ore at Yantai since 2015, according to an official statement from the port.
The framework deal was signed by Zhang Quancheng, vice president of Yantai Port Group, and one “Mr. Eisenjo,” who is the president of Vale China.
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