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Brazil's Vale agrees to new terms with Mitsui for Mozambique coal asset

RIO DE JANEIRO, Sept 29 Brazilian miner Vale SA said on Thursday it has agreed to new terms with Japan's Mitsui & Co for the sale of a stake in its Moatize coal mine and connected railway in Mozambique.

Under the new terms, Mitsui will contribute up to $450 million for a 15-percent stake in the mine and $348 million for a 50-percent stake in assets related to the Nacala Corridor, a railway and port connected to the mine. (Reporting by Stephen Eisenhammer; Editing by Lisa Shumaker)

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