Vale to start Mozambique coal mine exports in 2011
Thématique :
mozambique
Brazil's Mining giant Vale said on Monday it expects to start exporting coal from its Moatize mine in Mozambique in 2011.
Vale CE Officer Roger Agnelli told Reuters the mine will eventually produce 40-million metric tonnes of coal a year.
Vale, the world's second-biggest miner and the biggest iron-ore producer, won the government tender in 2004 and paid $123 million for licence to produce coal in Moatize.
The group, formerly Companhia Vale do Rio Doce CVRD, will export the coal by rail to the eastern port of Beira, more than 600 kilometers.
The concession, located in an area with estimated coal reserves of 2.5 billion tonnes, has an expected life span of 25 years, according to the company.
"Vale has this year spent $130 million in Mozambique, while the total amount invested in projects in the country comes to $250 million," Agnelli said.
"The government has supported us and all the ministries are cooperating with (us)," he said.
The Vale concession is for 25 years, and the area concerned contains estimated reserves of 2.5 billion tonnes of coal.
Vale CE Officer Roger Agnelli told Reuters the mine will eventually produce 40-million metric tonnes of coal a year.
Vale, the world's second-biggest miner and the biggest iron-ore producer, won the government tender in 2004 and paid $123 million for licence to produce coal in Moatize.
The group, formerly Companhia Vale do Rio Doce CVRD, will export the coal by rail to the eastern port of Beira, more than 600 kilometers.
The concession, located in an area with estimated coal reserves of 2.5 billion tonnes, has an expected life span of 25 years, according to the company.
"Vale has this year spent $130 million in Mozambique, while the total amount invested in projects in the country comes to $250 million," Agnelli said.
"The government has supported us and all the ministries are cooperating with (us)," he said.
The Vale concession is for 25 years, and the area concerned contains estimated reserves of 2.5 billion tonnes of coal.
