Companhia Vale do Rio Doce clarified that it is making its long term iron ore commercial contracts conditions flexible.

Currently, Vale is receiving 80% of the sales in cash and 20% will be received at a latter date while 2009 benchmark price settlement is not concluded.

According to 2009 benchmark price negotiation outcome, provisory sales prices are equivalent to 80% of 2008 benchmark prices and they will be adjusted afterwards.