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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.
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.
As quoted in the market news:
Analysts put a net asset value on Vale’s coal operations of roughly $4 billion – though most of that value is Moatize in Mozambique, one of the largest metallurgical coal mines in the world – meaning a stake sale could raise as much as $1 billion.