CVRD has bought export thermal coal assets from Colombia's Cementos Argos for $305,8-million, the Brazilian miner.
Last December, Vale said they would pay $300-million for the assets, which include the El Hatillo open pit mine and the Cerro Largo exploration property.
The acquisition also includes Argo's coal logistics assets which makes it easy to enhance the growth options in the coal business according to a company statement.
Argos is a Colombia-based cement producer and one of the largest cement producers in Latin America. It has cement, concrete and aggregates operations in the US, Panama, Venezuela, Haiti and the Dominican Republic
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