S. Korea to provide US$1 bil. to Brazilian miner Vale

Updated Friday, November 21, 2008 10:41 am TWN, AFP

S. Korea to provide US$1 bil. to Brazilian miner Vale

SEOUL -- The Export-Import Bank of Korea said Thursday it would provide Brazilian miner Vale up to a billion dollars for future projects as resource poor South Korea tries to secure stable supplies of raw materials. The state-run South Korean bank said it would share information on mining projects with Vale, the world’s largest iron ore producer, and offer financing for a joint project with a Korean firm.

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