Part of a new strategic plan for Vale?
Reports are that Vale has sold its Integra coal mine in Australia to Glencore and Bloomfield.
The Integra coal mine complex is located in New South Wales’ Hunter Valley. This coal complex has been on “care and maintenance” for about a year. Vale decided the operation was not economically viable.
Last month Vale month’s sold its Issac Plains met and thermal mines to Stanmore Coal. Reports were that this transaction was at One Dollar for the project valued at $613 million three years earlier.
Mining.com reports that the divestment of Isaac Plains and the sale of Integra Coal has led to a 7.2% reduction in Vale’s total coal output.
Now, about 65% of the miner’s coal output will be generated by Vale’s Moatize project in Mozambique.