Vale nears coal mine agreement with Mitsui

Vale nears coal mine agreement with Mitsui

Brazil Japan Loans M&A Africa Project & Infrastructure Finance

Vale said it is nearing close on a deal with Japan's Mitsui to sell part of its shares in a coal mine, port and railway project in Mozambique.The Brazilian iron ore miner will receive roughly $770m from the Japanese trading company, including $733m by the end of March, Vale said in a statement.Vale and Mitsui also expect to close this year a $2.7bn project finance loan for the Moatize coal mine and the Nacala logistics corridor. The firms had previously said Vale would receive payment after the

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