Vulcan takes Moatize mine


Brazilian mining giant Vale has concluded the sale of its Mozambican mining operations to Vulcan Resources, part of India’s Jindal Group, in a deal reported to be worth US$270M. Vale decided in 2021 to disinvest from coal to focus on lower-carbon mining, triggering the sale of Moatize mine in Tete Province in the far northwest of Mozambique.

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