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Home Africa

Brazil’s Vale agrees to new terms with Mitsui for Mozambique coal asset

FurtherAfrica by FurtherAfrica
September 29, 2016
in Africa, Coal, Development, Economy, FDI, Finance, Industry and Commerce, Infrastructure, M&A, Mining, Mozambique, Natural Resources, Rail, Trade, Transport
Reading Time: 1 min read
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Brazilian miner Vale SA said on Thursday it has agreed to new terms with Japan’s Mitsui & Co for the sale of a stake in its Moatize coal mine and connected railway in Mozambique.

Under the new terms, Mitsui will contribute up to $450 million for a 15-percent stake in the mine and $348 million for a 50-percent stake in assets related to the Nacala Corridor, a railway and port connected to the mine.

Source: Reuters

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Tags: CoalMitsuiMitsui & ComoatizeMozambiqueNacalaPortRailRailwayValeモザンビーク三井グループ莫桑比克
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Founded in 2015 FurtherAfrica is an online platform centralising news and content focusing on the development and growth story of the African continent.

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