After Rio Tinto exit, Vale negotiates sale of assets at coal mine in Mozambique

The chairman of Brazilian mining company Vale, Murilo Ferreira, said Friday in Rio de Janeiro that negotiations were underway for the sale of part of its assets in Mozambique, Brazilian financial newspaper Valor Economico reported.

Murilo Ferreira said that negotiations were underway to find partners both for the logistics of the project – the Nacala Corridor – as well as for the coal mine in Moatize, Tete province.

“We are at a very delicate stage of negotiations for the stake in both the Nacala Corridor and the Moatize mine. We should not and cannot talk about what is happening and who we are negotiating with,” said the chairman of Vale.

Murilo Ferreira noted that facilities were in place to produce 11 million tons of coal per year, but that logistics only allowed for maximum exports of 4 million tons. This situation would only improve, he said, when the Nacala Corridor is completed.

“Producing without having a way to transport production is inefficient,” he said.