National and foreign investors interested in taking over Vale's coal business in Mozambique will pay a visit next September to check the real conditions of the projects in question.
After the visit, interested parties will be able to submit their proposals until the end of December.
The conclusion of Vale's entire divestment process in Mozambique will be concluded during the course of next year, according to the established schedule.
The information was recently advanced by the Minister of Mineral Resources and Energy, Max Tonela.
According to him, after firm bids are submitted, the Government will intervene in the process to evaluate the potential of each company and the one that best meets the requirements according to the law.
According to the governor, at this moment, Vale is receiving proposals from potential investors that will replace it as operator, after the Brazilian multinational consolidated its position in the business with Mitsui's exit.
Recall that in January, Vale announced that it had signed a memorandum of understanding with Japanese partner Mitsui, "allowing both parties to structure Mitsui's exit from the Moatize coal mine and the Nacala Logistics Corridor (NLC) as a first step towards Vale's divestment from the coal business."
After the exit of Mitsui and until the sale of the operation, Vale sought to preserve the operational continuity of the Moatize mine and the NLC, as well as to continue with the actions of increasing the productive capacity of the project and maintain all the commitments to society.
The transaction with Japan's Mitsui was made for the symbolic price of one dollar per share, but all associated expenses and charges, including an outstanding balance of $2.5 billion, pass to Vale.
Vale's goal is to be carbon neutral by 2050 and to reduce some of its main sources of carbon pollution by 2030. Coal is currently one of Mozambique's main export products, mainly to the Asian market.