UPDATE 1-Brazil's Vale CEO confident on lining up coal partner

jueves 3 de abril de 2014 00:16 GYT
 

* Potential coal partners share long term positive view

* CEO seen no recommendation to close Australia coal mines

* Acquisitions off the agenda (Adds Vale CEO comments)

By Sonali Paul

MELBOURNE, April 3 (Reuters) - Brazil's Vale SA expects to line up a partner for its coal operations in Australia and Mozambique despite weak conditions facing the industry, its chief executive said on Thursday.

Vale has previously said it was looking to sell a 15-25 percent stake in its coal operations, including its Moatize mine in Mozambique and its Carborough Downs, Integra and Isaac Plains mines and undeveloped projects in Australia.

Vale Chief Executive Murilo Ferreira said on Thursday the company's Australian mines have "many problems" but the company was taking a long-term view on the industry.

"We have potential investors with the same view, based on a long-term operation. And, for sure, they appreciate to see a partnership with us," Ferreira said at a mining industry function in Melbourne.

He declined to comment on who the company was talking to.   Continuación...