Vale sells coal assets to Jindal

  • In line with Vale 's (NYSE: Vale ) announced intention to divest from coal production, and previewed by the Company earlier in the quarter, Vale has announced the sale of a Mozambique coal mine to Vulcan mining (a subsidiary of Jindal group, including Jindal Steel) for $270m plus a 10-yr royalty agreement.
  • This follows Vale 's acquisition of 15% of the mine, and 50% of the associated infrastructure from Mitsui for $1 earlier in the year, and Vale 's ~$2b impairment at Q3 results.
  • With seaborne (Newcastle) coal prices higher today than at any point during the mine's development, it's difficult to see how a sale price ~90% below cost is anything but a negative; however, the operational challenges and write downs have been well flagged and the scale is immaterial.
  • With the IEA pointing towards a new dawn for global coal demand, and India growing demand at 4x the global rate through 2025, it seems sensible for Indian companies to look for ways to manage their energy supply risk through asset purchases of this nature.

    Over the current book year the company from Null could achieve a revenue around 53.77 billion USD (consensus estimates). This is quite lower than 2021's revenue of 208.53 billion USD.

    Historical revenues and results Vale plus estimates 2021

    historische koersen

    The analysts expect for 2021 a net profit of 20.81 billion USD. According to most of the analysts the company will have a profit per share for this book year of 4.24 USD. Based on this the price/earnings-ratio is 3.21.

    Huge dividend Vale

    For this year the analysts expect a dividend of 2.32 USD per share. Thus the dividend yield equals 17.06 percent. The average dividend yield of the mining companies is a limited 0.81 percent.

    Vale 's market capitalization is around 69.74 billion USD. -5

    On Tuesday the stock closed at 13.6 USD.

    Historical stock prices Vale

    stock prices vale

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