London —
Miner Vale expects to strike a deal to divest its Moatize coal operation in Mozambique by the end of this year, as it moves towards exiting the coal business, a Vale executive told analysts on a Q1 results call April 27.
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"Over 20 NDAs (non-disclosure agreements) have been signed with interested parties... with a firm intention to bid," said company CFO Luciano Siani.
The company hopes to receive bids or intentions for the coal property by the start of the second half and to sign a deal before year-end "if we're a little lucky," Siani said.