On March 29, 2012, China Beijing International Mining Exchange (CBMX) and Vale International SA (Vale) signs a Memorandum of Understanding (MOU) in Singapore. Vale gives support to China Iron Ore Spot Trading Platform (the Platform) and CBMX welcomes Vale to become a signed-up member of the Platform, which is under Vale’s positive discussion. Both sides wish the Platform could operate smoothly and healthily.

Claudio Alves, global marketing director at Vale’s ferrous division and Dong Chaobin, president of CBMX, signed the agreement.

Luiz Meriz, president of Vale Minerals Trading China Co., Ltd., Xu Xu, chairman of China Chamber of Commerce of Metals Minerals & Chemicals Importers & Exporters (CCCMC), Liu Zhiyang, director of the minmetals department of CCCMC, Wang Chunsheng, deputy secretary general of China Iron & Steel Association (CISA), Wang Yingsheng, director of the market research department of CISA, Liang Ruodong, vice president of CBMX, and representatives of China National Minerals Co., Ltd., Sinosteel Trading Co., Ltd., and China National Building Materials Group Corporation attended the signing ceremony.