Brazil-based Vale has inked a pact with Shandong Landbridge Group to jointly build an over 0.3 million tonnes iron ore dock in Rizhao, China’s largest iron ore port. Both sides will set up a JV under the name of “Rizhao Landbridge-Vale Port Co Ltd” to respond for the construction and operation of the project. With total investments of USD 410 million, the Shandong company will take a 75% stake of the JV with Vale securing 25%.
