{"id":7054,"date":"2021-10-08T17:31:18","date_gmt":"2021-10-08T17:31:18","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/?p=7054"},"modified":"2021-10-08T15:48:28","modified_gmt":"2021-10-08T15:48:28","slug":"vale-expects-moatize-mozambique-coal-divestment-by-year-end-ceo","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/vale-expects-moatize-mozambique-coal-divestment-by-year-end-ceo","title":{"rendered":"Vale expects Moatize, Mozambique, coal divestment by year-end: CEO"},"content":{"rendered":"

Africa-Press<\/a> – Mozambique<\/a>. <\/strong><\/span>Brazilian diversified miner Vale may find a buyer for its Moatize coal operation in Mozambique by the end of this year, in a continuing move to achieve a leaner portfolio, Vale CEO Eduardo Bartolomeo said Oct. 7.<\/p>\n

Vale divested its manganese ferroalloy assets in Minas Gerais state, Brazil, last week, following its divestment of its Vale New Caledonia (Goro) nickel and cobalt project earlier this year, the CEO said. \u201cMoatize is the next one,\u201d he said.<\/p>\n

The company later also plans to divest its stakes in steelmakers California Steel Industries (CSI) and Companhia Siderurgica do Pecem (CSP) in northeast Brazil, according to information presented by Bartolomeo at the event.<\/p>\n

Vale has divested a string of coal, fertilizer, potash, steel and other non-core assets since 2015 and is working on a potential \u201creshaping\u201d of its base metals business, which includes copper, nickel and cobalt, according to the executive. \u201cWe need to grow copper in Brazil,\u201d he said.<\/p>\n

The major iron ore miner expects to sell its Moatize operation to a \u201cresponsible operator,\u201d said Bartolomeo. Current high prices for both thermal and metallurgical coal should help the sale, he said.<\/p>\n

Seaborne coking coal prices are currently at all-time highs on global supply tightness. S&P Global Platts assessed Premium Low Vol, or PLV, unchanged on the day at $396\/mt FOB Australia, and CFR China stable day on day at $604\/mt Oct. 7.<\/p>\n

Vale earlier this year finalized a revamp of Moatize, which is currently producing at a rate of 15 million mt\/year and is expected to receive equipment to upgrade to 18 million mt\/year by the end of the year. The mine produces both metallurgical and thermal coal.<\/p>\n

Moatize, which Vale brought on stream in 2011, has a total capacity of 22 million mt\/year of coal.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. Brazilian diversified miner Vale may find a buyer for its Moatize coal operation in Mozambique by the end of this year, in a continuing move to achieve a leaner portfolio, Vale CEO Eduardo Bartolomeo said Oct. 7. Vale divested its manganese ferroalloy assets in Minas Gerais state, Brazil, last week, following its […]<\/p>\n","protected":false},"author":84,"featured_media":7052,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,281,283],"class_list":["post-7054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nVale expects Moatize, Mozambique, coal divestment by year-end: CEO - Mozambique<\/title>\n<meta name=\"description\" content=\"Brazilian diversified miner Vale may find a buyer for its Moatize coal operation in Mozambique by the end of this year, ...\" \/>\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\/vale-expects-moatize-mozambique-coal-divestment-by-year-end-ceo\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vale expects Moatize, Mozambique, coal divestment by year-end: CEO\" \/>\n<meta property=\"og:description\" content=\"Brazilian diversified miner Vale may find a buyer for its Moatize coal operation in Mozambique by the end of this year, ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/vale-expects-moatize-mozambique-coal-divestment-by-year-end-ceo\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-08T17:31:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2021\/10\/img-616068381e368.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"730\" \/>\n\t<meta property=\"og:image:height\" content=\"438\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/vale-expects-moatize-mozambique-coal-divestment-by-year-end-ceo#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/vale-expects-moatize-mozambique-coal-divestment-by-year-end-ceo\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Vale expects Moatize, Mozambique, coal divestment by year-end: CEO\",\"datePublished\":\"2021-10-08T17:31:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/vale-expects-moatize-mozambique-coal-divestment-by-year-end-ceo\"},\"wordCount\":303,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/vale-expects-moatize-mozambique-coal-divestment-by-year-end-ceo#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2021\/10\/img-616068381e368.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/vale-expects-moatize-mozambique-coal-divestment-by-year-end-ceo#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/vale-expects-moatize-mozambique-coal-divestment-by-year-end-ceo\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/vale-expects-moatize-mozambique-coal-divestment-by-year-end-ceo\",\"name\":\"Vale expects Moatize, Mozambique, coal divestment by year-end: CEO - 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