Today, Vale and Shanghai Keda Heavy Industry Group Co., Ltd. (KDHI) signed a Memorandum of Understanding ("MOU") for partnering on social initiatives that aim to enhance education in Brazil. For this purpose, Vale, through Vale Foundation, and KDHI will together make a donation of more than R$1.5 million (approximately RMB 1.8 million).
The MoU was signed by Ms. Tracy Xie, President of Vale China and Mr. Li Ping, Founder and Chairman of KDHI. According to the MoU, the two parties will each donate R$776,500 (approximately RMB 900,000) to support the fight against school dropout.
Vale and KDHI also intend to make further donation after the pandemic to support young technical talents from the low-income communities around Vale's operations in Brazil to study in China, including having internship in KDHI's manufacturing plants.
"We are very grateful to have KDHI as a partner in social investment. As the major supplier of Vale's innovative truckless system that replaces the traditional off-highway trucks in transporting iron ore in our mines, KDHI has continuously supported Vale's reduction of operational emissions. We are very glad that the partnership between Vale and KDHI will go beyond business. Vale will keep contributing to a greater social justice through projects in the education, health and income generation areas via partnerships." said Ms. Tracy Xie.
"We have been cooperating with Vale for ten years. We are very glad that KDHI could have the opportunity to help people in need in Brazil. KDHI has always been committed to building schools and helping students, supporting the elderly and alleviating poverty. We believe that these are important causes to create sustainable social value. Our efforts might be like a drop in the ocean, however, many a little makes a mickle. While receiving help and support from the entire society, KDHI hopes to create value and give back to society with responsibility, helping more people realize their dreams and transform their future." said Mr. Li Ping.
Prior to the signing ceremony, Vale and KDHI also held a video conference to deepen mutual understanding. Mr. Marco Braga, Procurement & Inbound Logistics Director of Vale and Mr. Hugo Barreto, Sustainability and Social Investment Director of Vale attended the video conference from Brazil.
VALE S.A. 
