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Vale sells 2 ore carriers for US$178M

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Vale sells 2 ore carriers for US$178M

Vale SA said Aug. 9 that it has concluded the sale of two very large ore carriers of 400,000 tonnes to the nominees of Bank of Communications Finance Leasing Co. Ltd. for about US$178 million.

The mining major received the payment Aug. 8 at the delivery of the vessels.

Vale is also negotiating the sale of its remaining two vessels, in line with its strategy of strengthening its balance sheet and focusing on core assets.