Vale’s overhaul drives approx 30% drop in Trade Finance lead time
A global mining leader optimizing costs, cash flow, and risk through trade finance automation
- Diversified Trade Finance Sources – Expanding access to a broader financing network.
- Optimized LC Discounting – Lowered bank concentration for LC discounting by 20%
- Increased Efficiency & Visibility – Digitized trade finance workflows, faster RFQs, better pricing, and improved risk assessment.
Improve lives and transform the future
Vale is a global mining company that exists to improve lives and transform the future together. One of the world’s largest producers of iron ore and nickel and a major copper producer, Vale is headquartered in Brazil and operates around the world.
Its operations comprise integrated logistics systems, including approximately 2,000 kilometres of railways, marine terminals and 10 ports distributed around the globe. China is a significant consumer of iron ore and nickel, and its other key export markets include the US, Europe and Japan.
Limitations of a manual workflow
The L/C bidding process is traditionally a manual and complex process, requiring over 20 back-and-forth email exchanges between Vale and its network of banks. Tracking each bank’s response, ensuring that all required documentation is submitted correctly, and managing the process was not only time-consuming, but prone to inefficiencies as well.
This was Vale’s process for selecting banks: each month, the company would email all the banks and receive their indicative pricing for that month. These indicative rates were a reference point of the pricing they could expect, even if they were not entirely
accurate……
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Case Studies
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