Vale has entered into an agreement to sell its 25% stake in Chinese coal producer Henan Longyu Energy Resources Co to Yongmei Group for 1.07 billion yuan ($152 million), the Brazilian mining company said on Friday December 27.
Longyu operates two coal mines in the Chinese province of Henan, producing around 3.4 million tonnes per year of metallurgical and thermal coal, Vale added. The buyer, Yongmei, is already the major stockholder...