International mining giant Vale has entered the Ethiopian mining sector with an exploration license received from the Ministry of Mines. The Brazilian mining company established an exploration site on a 900km2 concession in the Konso area, Ethiopia. 
Vale expects to explore and extract gold as well as seeking other commercially viable minerals such as iron ore said Marcelo A. Borges First Secretary and Deputy Mission at the Brazilian Embassy.
Vale is the largest Brazilian mining company and second largest internationally noted Borges.
Vale is the first Brazilian company to invest in Ethiopia although trade relations between the two countries are on the rise.Representatives from the Ethiopian Sugar Corporation recently visited Brazil and India to study the successful sugar industries in those countries said Borges. Ethiopia and Brazil are in the midst of discussions to facilitate technical cooperation between the sugar sectors of the two countries.
Cooperation between the two countries will be founded on capacity, demand and non interference in internal issues explained Borges.
There are provisional plans for a Business delegation from Brazil to visit Ethiopia in February of the coming New Year he said. The details of the sectors that are going to be represented by the delegation are still in the process of being worked out according to Borges.
Vale is the second biggest mining company in the world and the largest private company in Latin America. Headquartered in Brazil and operating in 38 countries, Vale now employs over 126,000 people, including employees and contractors.
In Africa Vale is presently active in Angola, the Democratic Republic of the Congo, Gabon, Guinea, Liberia, Malawi, Mozambique, and South Africa.
Source: Capital
