Brazilian mining company Vale has just completed the responsible transfer of the Moatize operation and the Nacala Logistics Corridor to Vulcan Resources, based on the binding asset sale agreement announced last December 21.

The completion of the shareholder transaction was subject to the fulfillment of customary conditions precedent, including the approvals of the governments of Mozambique and Malawi.

According to the statement we had access to, the two companies will continue to collaborate on implementing systems, processes, and procedures to ensure continuity of operations.

It should be noted that Vale has been in Mozambique for 15 years. And during this time, it invested a total of 13.1 billion dollars in the developments, occupying a prominent place as the country's largest investor and one of its largest tax payers to the tune of 1 billion dollars.

Provided about 50,000 direct and indirect jobs and more than 5,000 local suppliers Maintained important social and environmental development initiatives in the region where more than $82 million were invested in the Mine and Corridor projects.

Vulcan is a private Indian company that is part of the Jindal Group, with a market value of 18 billion dollars and is already present in Mozambique, exploiting the Chirodzi mine, also in Tete.