October 29, 2021, Nanjing, China, This year marks the 25th anniversary for the establishment of the friendly province-state relationship between Jiangsu Province, China and Minas Gerais State, Brazil. During the ceremony in Nanjing on October 26th, new fruitful results were achieved from the friendship and cooperation between the two world-class multinational enterprises as XCMG officially signed an MOU with Vale S.A. Brazil, a world-renowned mining company,for the potential supply of mining and infrastructure equipment,including zero-emission equipment and autonomous equipment.
 

The MoU was signed by Mr. Antonio Cardoso, Head of Procurement China of Vale and Mr. Sam Shang, Deputy General Manager of XCMG Import and Export Co., Ltd, with witness from Mr. Gilberto Fonseca Guimarães de Moura, Consul-General of Brazil in Shanghai, Mr. Hui Jianlin, Vice Governor of Jiangsu Province, Ms. Tracy Xie, President of Vale China and Mr. Hansen Liu, Vice President of XCMG Machinery.

“Environmental protection is vital for human happiness and the driving force for enterprises to realize sustainable development. As a world-renowned enterprise that develops and manufactures complete sets of large-scale machinery for open-pit mining, XCMG takes green and new energy machinery as the key direction of advancement. We are also glad to see that Vale considers green development featuring low-carbon mining and net zero emissions as a critical strategic goal for its development. After signing this MOU, we will set up a special team in XCMG for deeper cooperation and communication with Vale, for joint contribution to push forward the global environmental protection, and to boost green and sustainable development in economy”,At the signing ceremony, Mr. Hansen Liu said.

Mr. Alexandre Pereira, Vale’s Executive Vice President for Global Business Solutions congratulated this initiative. ”It is in line with Vale's goal of reducing its carbon emissions of scope 1 and 2 by 33% by 2030 and achieving net zero emissions by 2050 and reinforces our ambition to lead the road to low carbon mining. Vale also sees this partnership with XCMG Machinery as one more important step in the deepening of its long-term and win-win partnership with China, which dates back to 1973, when Vale sent its first iron ore shipment to China”, Pereira said.

“The successful signing of the MOU between XCMG and Vale means a lot to the powerful alliance between China's manufacturing industry and international partners towards the broad international market. This signing demonstrates the positive influence of our province in intensifying overseas cooperation and communication, and stabilizing foreign trade-oriented economic growth under the new development pattern of "dual circulation" in which the domestic economic cycle plays a leading role while the international economic cycle remains its extension and supplement”,Mr. Hui Jianlin said.

About XCMG
 
Founded in 1943, XCMG has developed into a 100 billion-level leading enterprise in China's construction machinery industry, which is of large scale, full varieties and series of products, powerful competitiveness, influence, and national strategic importance. Currently ranking No.1 in the domestic industry, No.3 in the global industry, No. 4 in the Top 100 Chinese Machinery Industry and No. 409 in the Top 500 Global Brands, it functions as an appealing business card for China's equipment manufacturing industry.
 
About Vale
 
Vale was founded in 1942 and headquartered in the city of Rio de Janeiro, Brazil. Vale is one of the largest metals and mining companies in the world based on market capitalization and one of the world’s largest producers of iron ore and nickel. We also produce iron ore pellets, manganese ore, ferroalloys, metallurgical and thermal coal, copper, platinum group metals (PGMs), gold, silver and cobalt. We operate large logistics systems in Brazil and other regions of the world, including railroads, maritime terminals and ports, which are integrated with our mining operations. In addition, we have a distribution center to support the delivery of iron ore worldwide. Directly and through associates and joint ventures, we also have investments in energy and steel businesses. Since our first shipment of iron ore to China in 1973, we have been a long-term partner of China for 48 years, during which we have contributed to China’s economic growth by consistently supplying the country with high-quality iron ore and other mineral resources necessary for China’s ongoing development.