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CVRD announces US$2bn in Chinese steel contracts

Bnamericas
Rio de Janeiro, 25 - The press office of Brazilian mining giant Companhia Vale do Rio Doce (CVRD) announced on Thursday that the company had signed US$2bn in iron ore contracts with Chinese steel companies. This follows a visit to China by CVRD president Roger Agnelli. The company reported that the contracts signed this year will be valid from 2004. CVRD plans for all sales to China to be covered by long-term contracts with a span of 10-20 years. by Alessandra Saraiva

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