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Saturday, November 5, 2011

Vale SA looking to sell Colombia coal mine and port - Report

Saturday, 05 Nov 2011

Reuters citing potential buyers reported that Brazilian mining company Vale SA is looking to sell its Colombian coal mine and Rio Cordoba port.

Vale acquired the assets in April 2009 for USD 306 million and is looking to unload them as it views the assets as small and high-cost mines. A sales process began more than a month ago and a banker has been appointed by Vale.

A Vale spokesman said the company does not comment on rumors.

(sourced from Reuters)

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