The mine, scheduled to start operating in 2016, is expected to produce 5 million tonnes of coking coal a year.
Mozambique Mining News
Anglo abandons $555 million coal venture in Mozambique
The country's coal industry has faced a number of challenges in recent months.
Coal becomes Mozambique's 2nd-largest export earner
During the first six months of 2012 coal became Mozambique’s number two export, the Bank of Mozambique has revealed in its recent ‘Economic Climate and Inflation Perspectives’ report.
Government confirms Vale Mozambique to free up 10% of share capital for local investors
Government officials in Mozambique have confirmed that Vale Mozambique, the local subsidiary of Brazil's Vale SA, will make available 10% of its shares for purchase by local shareholders.
Brigadier Gold (TSX VENTURE:BRG) announces significant gold assays over 1.2 square kilometres
In total 41 samples were collected, the highest gold values were 170.8 g/t, 86.5 g/t, 80.6 g/t, 69.3 g/t and 58.4 g/t gold.
Anglo American agrees to acquire majority interest in Revuboè metallurgical coal project in Mozambique
Anglo has agreed to acquire a 58.9% interest in the Mozambique-based Revuboè coal project. The Revuboè project is currently a joint venture that includes Nippon Steel Corporation, and POSCO.
Mozambique ports struggling to handle load
A lack of cranes, tractors, tugs and other port equipment is affecting the productivity and efficiency of the ports of Beira and Nacala in Mozambique, which can handle only 35% of their export loads.
Rio Tinto makes first coal shipment from Mozambique
Giant miner Rio Tinto said Monday that it has started exporting premium hard coking coal from its Mozambique Benga Mine, its first shipment of 34,000 tons has left the Port of Beira and is bound for an Indian steel mill.
Brazilian Vale urged to sell shares in Mozambique Moatize coal
The Mozambican government is urging the Brazilian mining giant Vale to sell on the local stock exchange (BMV) 10 percent of its venture in Moatize in the northwestern province of Tete.
Brigadier Gold announces amendment to terms of Mozambique transaction
The consideration previously announced in the press release dated March 29, 2012 was the payment of $325,000 in cash and issuance of 7.5 million Special Warrants having a 2 year term and exercisable at $0.05 per share. The amended consideration is now limited to the payment of $325,000 in cash.
India to buy more Mozambique coal
In future Indian industrial giant Tata Steel will derive 10% of its coking coal requirements from Australian-based Rio Tinto's Benga coal mine in Mozambique.
Vale to begin building coal terminal in Mozambique
Mozambique's Prime Minister Aires Aly said in Tokyo on Thursday his nation plans to start construction of a coal terminal at the northern port of Nacala in the next few months, aiming for it to be operational in two to three years.
General's complaint against Pathfinder Minerals just got serious
Pathfinder Minerals, an Aim-listed natural resources company, mines heavy mineral sands on the coast of Mozambique.
Protest in Mozambique blocks coal train line
AFP reports about 500 protesters blocked a coal train line in Mozambique in a dispute with Vale over housing.
NMDC may pay $300 million for Mozambique, Russian coal mines
NMDC Ltd., India’s largest iron ore producer, plans to acquire two coking coal mines in Mozambique and Russia for about $300 million to feed its planned steel plants in India.
Beacon starts coal exports from Mozambique
British company Beacon Hill Resources has announced that it has begun exporting coal from the central Mozambican port of Beira.
Mozambique ports grow with Rio Tinto appetite for coal
Roads were little more than rubble and there was barely enough working equipment to load cargo at Maputo port in 2003. Then Mozambique brought in Grindrod Ltd. (GND) and DP World Ltd. (DPW)to operate the harbor.
Rumour mill churning on Anglo bid for Mozambique coal mine
Just one week following Anglo American's approval of a $1.7 billion met-coal project in Queensland, the London-listed diversified miner may be shopping for more coal assets.
Vale readies first Moatize coking coal shipment
Brazil's Vale is set to move its first coking coal shipment next week from its Moatize mine in Mozambique, sources told Reuters on Tuesday. This will be the first coking coal shipment, after 3 thermal coal shipments, and is destined for steelmaker ArcelorMittal's South African unit. Vale last month approved a $6 billion expansion of Moatize to double output to 22 million tonnes per year.
Coal and ports investments set to transform Mozambique
Reuters reports the board of Brazil's Vale has approved a $6 billion expansion of its Moatize coal project in Mozambique to lift output to 22 million tonnes per year from the 11 million tonnes it expects to mine initially with first production forecast for the second half of 2014.
The country's Tete province is believed to hold one of the world's largest untapped coal reserves that has been compared with Australia's coal-rich Bowen Basin. Mozambique suffered a 15-year long civil war that ended in 1992 and remains one of the poorest countries in the world, but the ex-Portuguese colony 7% economic growth this year is forecast to accelerate thanks to billions in mining and infrastructure spending. The Mozambique metical is also the world's best-performing currency.
Southern Cross Resources make Mozambique rare earth discovery
Macauhub reports Australian company Southern Cross Resources said Wednesday that its concession in Xiluvo, Mozambique, some 110 kilometres from the port of Beira, had reserves of rare earth elements of 1.1 million tons.
Concordia Resource to buy Swala Resources in 12,400 square kilometre Africa land grab
Concordia Resource Corp. (TSX VENTURE:CCN) ("Concordia") is pleased to announce that, further to its news release dated September 6, 2011, it has signed an arrangement agreement (the "Agreement") with Swala Resources Inc. ("Swala"), dated October 20, 2011. Under the Agreement Concordia has agreed to acquire all of the issued and outstanding Swala securities pursuant to a plan of arrangement. Swala brings to Concordia an extensive exploration portfolio in the resource endowed regions of Burkina Faso, Gabon, the Democratic Republic of Congo (the "DRC"), Zimbabwe and Mozambique with a land package totaling over 12,400 km2, as well as an experienced management team and board of directors with extensive expertise in Africa. Completion of the plan of arrangement transaction is expected by December 2011.
NTPC plans to acquire coal mines in Mozambique, Indonesia
NTPC Ltd, India’s biggest power producer, has appointed a consultant to evaluate two medium-sized coal mine acquisitions in Mozambique and Indonesia even as it plans to exit International Coal Ventures Pvt. Ltd (ICVL), a consortium of state-run firms formed to buy overseas coal mines.
Mozambican government suspends granting of coal mining licenses in Tete province
The Mozambican government has decided to suspending the issue of new licenses for coal mining in Tete province, the inspector of the Mining Resources Ministry, Afonso Abica said Tuesday in Maputo.
Mozambique: the birth of a new coal exporter
The African continent has historically meant just one thing to the global coal mining industry: South Africa. However, a new coal power is emerging in the form of Mozambique.
