Companhia Vale do Rio Doce announced that it has signed a new long-term contract with Corus UK Ltd to supply iron ore to its plants in Europe.

Under this long term contract, which is one of the largest ever signed between a steel company and an iron ore supplier, Vale will supply approximately 63 million tonnes of iron ore to Corus’s plants over the next five years.

The release said that “This contract is aligned with Vale’s and Corus’s desire to further strengthen their relationship that started in 1942, the same year of Vale’s foundation.”

Additionally, it highlights Vale’s unique capability as a long term reliable supplier of high quality iron ore, given its large scale operations and excellence.