Emirates Steel signed a contract with Brazilian company Valle to supply raw materials

MediaIN WAM November 4, 2018
The UAE Steel Company has signed a contract to supply iron ore pellets with Brazilian company Valle, the world’s largest producer of iron ore concentrates. Under the contract, the Brazilian company will supply the UAE iron part of its iron oxide needs starting this year until 2021. The supply contract Has made Valley one of the key strategic partners of the UAE.
The contract was signed by HE Saeed Ghamran Al Rumaithi, Chief Executive Officer of Emirates Steel Company, and Peter Bobbinga, CEO of Vale, in the presence of senior officials from both companies.
The annual requirements of iron ore, which constitute the raw material of the company’s products, are estimated at 6 million tons. The company imports it through international companies, including the Brazilian company, which is the beginning of cooperation between them for the year 2007.