RIO DE JANEIRO, BRAZIL - Brazil’s Vale said on Thursday, January 21st, it is buying out minority stake partner, Japan’s Mitsui & Co, in a Mozambique coal mine and port project, ahead of selling the loss-making asset as it works to become carbon neutral by 2050.
Vale, the world’s second-biggest iron ore miner, said in a statement it planned to divest its loss-making Moatize coal mine and Nacala Corridor rail and port projects in Mozambique, to focus on its core operations.
Mitsui said separately on Thursday it has agreed to sell its stake in the . . .