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Mozambique Mining: “Project Finance for Nacala Logistic Corridor concluded” – Vale

nacalarelease.jpgVale informs the conclusion and drawdown of the proceeds from the Project Finance for the Nacala Logistics Corridor (NLC), as announced on November 27th, 2017.

Vale received US$ 2.6 billion as a takeout of part of the shareholders loans conceded for the construction of NLC, net of certain related premiums and fees paid or to be paid by NLC.

The proceeds will be used to strengthen Vale’s balance sheet and reduce its indebtedness, as part of Vale’s strategy to generate shareholder value.

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