Vale to get $733m by month-end from Moatize stake sale to Mitsui

Brazilian mining company Vale said on Wednesday it is nearing conclusion of a deal to sell a stake in Mozambique's Moatize coal project to Japan's Mitsui & Co. Vale said it expects to receive by the end of this month an initial payment of $733-million from Mitsui from the equity sale. The company said it would receive $2.7-billion more after the financing for the project of the mine and the transportation system is concluded.