Reuters reported that Vale SA (NYSE:VALE) intends to sell a 15- to 25-percent stake in its coal operations as it works to bring in funding, cut capital commitments and help mitigate risk. The company has already seen interest from potential partners.
Articles Tagged "vale"
Mineweb reported that attendees of the Coaltrans Mozambique conference were told that the country's major coal producers, such as Rio Tinto plc (ASX:RIO,LSE:RIO,NYSE:RIO) and Vale SA (NYSE:VALE), need to decrease their logistics costs in order to become profitable.
Reuters reported that protesters blocked the entrance to Vale's biggest coal mine in Mozambique, arguing that they were due relocation compensation from five years ago.
Mining Weekly reported that Vale is resuming coal shipments on Mozambique coal contracts after they were suspended by heavy rains.
The Sydney Morning Herald reported that Vale announced a $ 1 billion write-down linked to Australian coal mines and blamed weak coal prices
Bloomberg reported that the Mozambican Minister of Mineral Resources recommends that Rio Tinto and Vale should consider developing a rail link jointly to ship coal.
Forbes reported several stocks reached a 52-week low including Rio Tinto (NYSE:RIO) and Vale (SAO:VALE5), according to GuruFocus.
Reuters reported that Vale (NYSE:VALE) has sold two Colombia-based coal properties to Goldman Sachs-owned Colombian Natural Resources.
Bloomberg reported that Yanzhou Coal (NYSE:YZC) is one of several groups interested in buying Vale's (EPA:VALE5) Australia-based Integra coal mine.
Colombia has long been a coal mining hotspot, but improving political conditions and a shifting coal market are drawing increased attention to the South American jurisdiction.