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Brazil’s Vale conducted its first iron ore sale via blockchain technology to a subsidiary of China's Nanjing Iron & Steel in the mining company's important milestone towards digitalization of sales.
Vale said in a statement on Thursday that it had completed its first sale of iron ore using blockchain technology with Nanjing Iron & Steel Group International Trade Co., Ltd., a subsidiary of Nanjing Iron and Steel Co., Ltd. (NISCO) for a cargo of 176,000 tons of Brazilian Blend Fines (BRBF) from Teluk Rubiah Maritime Terminal, in Malaysia, to China.
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