Vale to acquire the remaining 15% stake in the Moatize metallurgical and thermal coal mine and port project in Mozambique from Mitsui.

Vale, a Brazilian multinational corporation, agreed to acquire the remaining 15% stake in the Moatize metallurgical and thermal coal mine and port project in Mozambique from Mitsui, one of the largest sogo shosha in Japan. Financial terms were not disclosed. The signing of the definitive agreement with Mitsui, as an initial stage for the divestment of the coal business, is in line with the strategy of discipline in the capital allocation and the simplification of Vale's portfolio, and reinforces its commitment to the Paris Agreement, as well as Vale's goal to become a leader in low carbon mining.