Mitsui has agreed to spend US$951 million in Mozambique. This includes US$450 million for the purchase of a 14.25% stake in the Moatize coal mine from Vale, and an agreement to invest US$188 million in the mine to fund its share of remaining capex. In addition, Mitsui will earn a 35% interest in the Nacala Logistics Corridor (NLC) rail and port infrastructure, or half of Vale’s stake, by investing US$313 million to fund its share of remaining infrastructure capex.
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Insight | Dec 2014
Vale divests stake in Mozambique coal assets to reduce risk
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