United States
Securities and Exchange Commission
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant To Rule 13a-16 or 15d-16
of the
Securities Exchange Act of 1934
For the month of July 2002
Valley of the Doce River Company
(Translation of Registrant's name into English)
Avenida Graca Aranha, No. 26
20005-900 Rio de Janeiro, RJ, Brazil
(Address of principal executive office)
(Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.)
(Check One) Form 20-F X Form 40-F
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(Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing information to the Commission
pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)
(Check One) Yes No X
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(If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b). 82-___.)
Companhia Vale do Rio Doce Press Release
CVRD and Antofagasta Announce Joint Venture
Rio de Janeiro, July 19, 2002 - Companhia Vale do Rio Doce (CVRD), the largest
diversified mining company of the Americas, and Antofagasta Plc (Antofagasta),
one of the largest Chilean copper producers, formed a joint venture called
Cordillera de las Minas S.A (Cordillera), incorporated to develop mineral
exploration activities near Cuzco in southern Peru. The mentioned area,
considered promising, has approximately 60 thousand square kilometers. Other
important mining investments are located there. This joint venture is originated
from the Memorandum of Understanding signed between CVRD and Antofagasta,
publicly announced on June 6, 2002.
According to corporate documents signed on July 18, 2002, (i) Anaconda Peru S.A.
(Anaconda), Antofagasta's subsidiary, transferred mining rights to Cordillera,
retaining a total participation of 99.9%; (ii) CVRD established a company,
called Compania Minera Andino-Brasilera (CMAB), which holds a participation of
0.1% in Cordillera; (iii) CVRD/CMAB has the option to acquire a 50% stake in
Cordillera, after having invested US$ 6,700,000.00 during a period of three
years, in mineral exploration at Cordillera.
The Investment Agreement celebrated between CVRD, CMAB, Antofagasta, Anaconda
and Cordilllera, allows the participation, influence and rights of CVRD/CMAB in
Cordillera management, specially with respect to the investments to be made and
in the exercise of the option agreed.
This transaction is a strategic movement for CVRD, in line with the
internationalization of its activities, and reaffirms the Company's emphasis on
copper mining, following the recent acquisitions of the total capital of
Mineracao Serra do Sossego S.A and Salobo Metais S.A., and the beginning of the
Sossego project construction, in Carajas, Para.
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For further information, please contact:
Roberto Castello Branco: castello.branco@cvrd.com.br +55-21-3814-4540
Andreia Reis: andreia.reis@cvrd.com.br +55-21-3814-4643
Barbara Geluda: barbara.geluda@cvrd.com.br +55-21-3814-4557
Daniela Tinoco: daniela.tinoco@cvrd.com.br +55-21-3814-4946
Rafael Azevedo: rafael.azevedo@cvrd.com.br +55-21-3814-4700
This press release may contain statements that express management's expectations
about future events or results rather than historical facts. These
forward-looking statements involve risks and uncertainties that could cause
actual results to differ materially from those projected in forward-looking
statements, and CVRD cannot give assurance that such statements will prove
correct. These risks and uncertainties include factors: relating to the
Brazilian economy and securities markets, which exhibit volatility and can be
adversely affected by developments in other countries; relating to the iron ore
business and its dependence on the global steel industry, which is cyclical in
nature; and relating to the highly competitive industries in which CVRD
operates. For additional information on factors that could cause CVRD's actual
results to differ from expectations reflected in forward-looking statements,
please see CVRD's reports filed with the Brazilian Comissao de Valores
Mobiliarios and the U.S. Securities and Exchange Commission.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
COMPANHIA VALE DO RIO DOCE
(Registrant)
Date: July 19, 2002
By: /s/ Fabio de Oliveira Barbosa
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Fabio de Oliveira Barbosa
Chief Financial Officer