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Vale divests stake in Mozambique coal assets to reduce risk
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Report summary
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.
Table of contents
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Executive summary
-
Deal Summary
- Moatize Mine
- Nacala Logistics Corridor (NLC)
- Sensitivity to yield and price
- Location Map
- Coal assets
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Infrastructure assets
- Port
- Rail
- Costs
- Deal Analysis
- Upside and risks
- Strategic rationale
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Deal Summary
Tables and charts
This report includes 13 images and tables including:
- Key facts
- Deal valuation analysis and sensitivities
- Vale divests stake in Mozambique coal assets to reduce risk: Image 2
- Vale's Moatize mine in Mozambique
- Key assets
- Vale divests stake in Mozambique coal assets to reduce risk: Table 3
- Production (100% basis)
- Seaborne metallurgical cash cost curve (2014)
- Seaborne thermal cash cost curve (2014)
- Summary valuation
- Vale divests stake in Mozambique coal assets to reduce risk: Table 5
- Nacala port capacity and potential throughput
- Economic assumptions
What's included
This report contains:
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