{"id":19026,"date":"2022-05-06T15:48:14","date_gmt":"2022-05-06T15:48:14","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/state-to-collect-us20m-on-sale-of-vale-assets"},"modified":"2022-05-06T15:48:14","modified_gmt":"2022-05-06T15:48:14","slug":"state-to-collect-us20m-on-sale-of-vale-assets","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/state-to-collect-us20m-on-sale-of-vale-assets","title":{"rendered":"State to collect US$20M on sale of Vale assets"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>Mozambique will receive US$20 million (\u20ac18.9 million) in capital gains from the sale of assets from Brazilian company Vale to India\u2019s Vulcan, the Mozambican minister of mineral resources and energy said on Thursday in Maputo.<\/p>\n

Carlos Zacarias, who was speaking at the end of a meeting between the Mozambican president, Filipe Nyusi, and representatives of Vulcan, said that the two companies and the Mozambique Tax Authority were in negotiations aimed at a definitive clarification of the amount payable to the Mozambican state for the deal.<\/p>\n

\u201cThe Tax Authority, the seller and the buyer are in discussions to clarify the real amount to be paid,\u201d he said.<\/p>\n

As part of the operation, the Indian multinational will carry out investments in the mines and logistics component that it bought from Vale, also keeping jobs, he added.<\/p>\n

The minister for mining resources and energy said that the likely destination of the coal to be extracted from the mines would be Vulcan\u2019s steel factories in India.<\/p>\n

At the end of April, Vale announced it had completed the sale of coal mining assets in Mozambique to India\u2019s Vulcan Minerals, a deal worth US$270 million (\u20ac253 million).<\/p>\n

\u201cVale concluded on 25 April 2022 the process of responsible transfer of the Moatize operation and the Nacala Logistics Corridor to Vulcan Resources, based on the binding asset sale agreement,\u201d Vale Mozambique said in a statement to the media in December.<\/p>\n

The mines are located in Tete province, central Mozambique, and, according to Vale, the transaction complied with the conditions set out by law.<\/p>\n

Vale was in Mozambique for 15 years, having operated the Moatize mine and 912 kilometres of railway in the Nacala Logistics Corridor to transport coal.<\/p>\n

At the beginning of 2021, the company announced its intention to \u201cdivest from its coal assets\u201d and focus on \u201clow carbon mining.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. Mozambique will receive US$20 million (\u20ac18.9 million) in capital gains from the sale of assets from Brazilian company Vale to India\u2019s Vulcan, the Mozambican minister of mineral resources and energy said on Thursday in Maputo. Carlos Zacarias, who was speaking at the end of a meeting between the Mozambican president, Filipe Nyusi, […]<\/p>\n","protected":false},"author":84,"featured_media":19025,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,8,16],"tags":[233,281,283],"class_list":["post-19026","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nState to collect US$20M on sale of Vale assets - Mozambique<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/state-to-collect-us20m-on-sale-of-vale-assets\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"State to collect US$20M on sale of Vale assets\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Mozambique. Mozambique will receive US$20 million (\u20ac18.9 million) in capital gains from the sale of assets from Brazilian company Vale to India\u2019s Vulcan, the Mozambican minister of mineral resources and energy said on Thursday in Maputo. 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