Vale responds to media reports on Belvedere option value
12.08.2010
Vale would like to respond to recent media reports regarding its option to acquire Aquilas stake in
the Belvedere Coal Project in Queensland and the Fair Market Valuation (FMV) process underway.
Vale advises the process is ongoing and neither party has completed their FMV determination.
Although Vale is not aware of either value, we would expect that the FMV determined by both
Valuers would reflect the most relevant precedent transaction that being the deal completed on
1 June 2010, whereby Vale acquired a 24.5% stake in the Belvedere Coal Project from AMCI for
US$92 million.
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For further information, Vale Public Affairs, Noel Herley 0418794525