Friday, March 29, 2024

Logo Central America Link

Brazil's Vale sells Colombia coal assets to Goldman

Tuesday, May 29, 2012


Brazilian miner Vale said it agreed to sell its thermal coal assets in Colombia for $407 million to a unit of Colombian Natural Resources, a mining company controlled by US investment bank Goldman Sachs.Vale, the world's second-biggest miner, is shifting its focus away from thermal coal mining to concentrate on its operations in coking coal, a type of coal used by steel mills

Under the agreement, Vale, will sell 100 percent of its coal mines El Hatillo and Cerro Largo in the department of Cesar.




Source: Reuters