HomeEnergy MineralsVale moves ahead with Moatize coal mine

Vale moves ahead with Moatize coal mine

At work on the
Moatize coal project
Maputo, Mozambique — MININGREVIEW.COM — 21 July 2010 – Vale SA “’ the world’s biggest iron- ore miner “’ has completed 75% of work needed to start production at its Moatize coal mine in northwestern Mozambique.

Reporting this development on its website, state controlled Radio Mozambique cited Vale financial manager Fabio Bechara.

Vale has invested US$719 million (R5.4 billion) of the planned US$1.3 billion (R9.75 billion) it targeted for the southern African nation in the coal mining concession acquired in 2004, the Maputo-based broadcaster said.
Vale identified Brazil, China, India and Japan as markets to which it wanted to export the coal, Radio Mozambique added.