Brazilian miner Vale has announced that it is about to complete the equity transaction with Japan-based Mitsui & Co., Ltd. (Mitsui) regarding divestment of part interest in the Moatize coal mine and the Nacala Logistics Corridor (NLC), both in Mozambique.
Vale stated that the completion of the equity transaction is expected to occur by the end of this month and it expects to receive an initial payment of $733 million from Mitsui with the remainder, $2.7 billion, to be received upon the closing of the project financing for the mine and transportation system.