{"id":8220,"date":"2021-11-01T16:22:11","date_gmt":"2021-11-01T16:22:11","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/?p=8220"},"modified":"2021-11-01T14:35:22","modified_gmt":"2021-11-01T14:35:22","slug":"vale-to-receive-binding-offers-for-coal-business","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/vale-to-receive-binding-offers-for-coal-business","title":{"rendered":"Vale to receive binding offers for coal business"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Mozambique. <\/strong><\/span>Vale expects to receive binding offers for its coal business in early November, an executive said on Friday, as it aims to completely exit the sector and has decided to divest of its Moatize asset even before it reaches goals projected in the firm\u2019s business plan.<\/p>\n<p>\u201cWe have already received some indicative proposals to sell the business. Now we expect to receive binding offers in early November,\u201d Vale\u2019s Finance VP Luciano Siani said during a conference call.<\/p>\n<p>Vale signed a deal to acquire Mitsui&amp; Co\u2019s stake in the Moatize metallurgical and thermal coal mine and port project in Mozambique in April.<\/p>\n<p>Moatize is Vale\u2019s largest venture in the coal sector, and has been operational since 2011. The complex has a capacity of 22 million tonnes of coal a year, including metallurgical and thermal types.<\/p>\n<p>In 2017, Mitsui paid $690 million for its interest in the mine.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/mozambique\">Mozambique<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Mozambique. Vale expects to receive binding offers for its coal business in early November, an executive said on Friday, as it aims to completely exit the sector and has decided to divest of its Moatize asset even before it reaches goals projected in the firm\u2019s business plan. \u201cWe have already received some indicative [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":8219,"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-8220","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":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Vale to receive binding offers for coal business - 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