The Brazilian mining company Vale will indeed withdraw from the coal business. The position was advanced by the Minister of Mineral Resources and Energy, Max Tonelawho assured that the process is proceeding at a good pace and that the rights of the population are safeguarded.

It is all a matter of time before the withdrawal from the Mozambican market of Brazilian mining company Vale, involved in coal mining in the center of the country for more than 10 years, confirmed the Minister of Mineral Resources and Energy, Max Tonela, on Wednesday.   

"The first step will be the deal made between the two shareholders, Vale and Mitsui, which will allow Vale to take over 100% of what exists both in the infrastructure component in the Nacala corridor and in the mining sector component, and that step should be closed in the coming weeks," the minister assured.

It is known to the Mozambican government that Vale has already contracted some investment banks that are assisting in identifying companies that have the technical and financial competencies to acquire Vale's stake in the business.

"The Government has been monitoring the process ensuring that the continuity of operations of the Moatize coal mining enterprise and the Nacala corridor are not jeopardized," the minister assured.

The capital gains will still be subject to an evaluation by the Mozambican Tax Authority.

Coal mine in Moatize, operated by the Brazilian company Vale, which intends to stop exploring coal in Mozambique, officially to obtain neutrality in its carbon emissions in 2050.