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Vale completes Moatize coal transaction with Mitsui
This week, Vale announced it had completed the $770 million equity transaction with Mitsui & Co Ltd (Mitsui) associated with the divestment of part of its interest in the Moatize coal mine and in the Nacala Logistics Corridor (NLC). Vale received $733 million and the remaining $37 million will be paid at the conclusion of the project finance transaction of as much as $2.7 billion, which will help fund the project and is still expected to happen in 2017. The decision to complete the equity transaction prior to the signing of the project financing is a major milestone for the NLC as it demonstrates Vale's confidence on the progress of the project financing, the company said.
Vale completes Moatize coal transaction with Mitsui
This week, Vale announced it had completed the $770 million equity transaction with Mitsui & Co Ltd (Mitsui) associated with the divestment of part of its interest in the Moatize coal mine and in the Nacala Logistics Corridor (NLC). Vale received $733 million and the remaining $37 million will be paid at the conclusion of the project finance transaction of as much as $2.7 billion, which will help fund the project and is still expected to happen in 2017. The decision to complete the equity transaction prior to the signing of the project financing is a major milestone for the NLC as it demonstrates Vale's confidence on the progress of the project financing, the company said.
Vale completes Moatize coal transaction with Mitsui
2017
Article (Journal)
English
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