Vale concludes sale of its coal assets
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Vale concludes sale of its coal assets
Vale concluded the sale of the Moatize coal mine and the Nacala Logistics Corridor (NLC) to Vulcan Resources, following the completion of all conditions precedent, as per the December 21st, 2021 release.
"Vale took another step towards its strategy of focusing on its core businesses and on its goal of becoming a leader in low-carbon mining. We thank the Governments of Mozambique and Malawi for the support and partnership over the past 15 years. I also extend my sincere gratitude to our employees and stakeholders who helped us bring local development and build a great legacy for these two countries", said Eduardo Bartolomeo, CEO of Vale.
This transaction reinforces Vale´s commitment to responsibly reshape and decarbonize its portfolio while maintaining a disciplined capital allocation process.
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