Brazilian mining giant Vale signed an MOU for operational cooperation with the Japan Bank for International Cooperation (JBIC) to strengthen their long-term partnership.

Vale said in a release that, under the MOU, both parties will further discuss the possibilities of future financing to support the company's businesses in iron ore, coal, base metals and related infrastructure projects as well as building more partnerships between the miner and Japanese companies.

"The agreement shall remain in force for a period of three years," the release said.

The signing ceremony for the agreements took place on Friday during the official visit of Japanese Prime Minister Shinzo Abe to Brazil.