Vale to sell 15% of its $3bn Mozambique coal project to Mitsui
The miner confirmed Friday it is in talks “with a potential investor,” but did not name its counterpart.
The miner confirmed Friday it is in talks “with a potential investor,” but did not name its counterpart.
Chief Financial Officer Luciano Siani confirmed Tuesday the company's plans to sell a minority stake in its metals-producing unit.
The world's largest iron ore producer said the new division head will focus on increasing efficiencies.
While the miner produced a record amount of iron ore, turmoil in currency and commodity markets overshadowed any production gains.
Analysts say only a business-friendly appointment followed by credible action to strengthen the fiscal accounts and control inflation would reassure markets.
The miner beat estimates after logging a 16% jump in Q3 nickel production, taking total output of the metal this year to 201,400 metric tons.
The agreement signed with Indonesia’s outgoing government also means higher royalties to be paid by the firm.
The mega-ship Shandong Da Ren docked at Dongjiakou port in Qingdao, eastern China, on Oct. 2.
The Australian coal sector continues to contract sharply, with hundreds of workers at another Queensland mine set to be told of imminent job losses on Tuesday morning.
The world's largest dry bulk cargo ships capable of carrying 400,000 tonnes, more than twice the size of competitors' fleets.