Jindal-backed Vulcan Minerals to acquire the Moatize coal mine and the Nacala logistics corridor from Vale for $270m.

Jindal-backed Vulcan Minerals, a Canada based mineral exploration company, agreed to acquire the Moatize coal mine and the Nacala logistics corridor from Vale, a Brazilian multinational corporation engaged in metals and mining, for $270m. “I am pleased to announce this important step for the responsible divestment of Moatize and NLC, in a transaction that benefits the communities and governments where those operations are located and offering a sustainable future for the operations. This is another accomplishment on our commitment to reshape our company, focusing on our core businesses," Eduardo Bartolomeo, Vale CEO.