22
Dec
09:15
Vale divests Mozambique-based Moatize coal mine
Vale says it has entered into a binding agreement with India’s Jindal Group subsidiary Vulcan Minerals for the sale of its Moatize coal mine and the Nacala Logistics Corridor (NLC), the Brazilian iron ore producer tells Kallanish. The mine produces both coking and thermal coal.
The deal is valued at $270 million and includes a ten-year royalty agreement subject to certain mine production and coal price conditions, Vale explains.
“This is an important…
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Very good overview of the weekly steel market.
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