Vale plans $4bn coal projects in MozambiqueBy WILLIAM MAPOTE in Maputo | Thursday, June 7 2012 at 12:49
Brazilian mining giant Vale says it will invest up to $4 billion in projects to ease the flow of coal from central Tete province in Mozambique to its Asian and American markets.
The project includes railway construction and rehabilitation in Mozambique and Malawi and a new coal port in Nacala-a-Velha in the northern province of Nampula.
This would facilitate the export of coal and other goods and boost the economic prospects of both countries, Vale said in a statement.
"The works are already underway in Malawi and now we are hopeful of concluding negotiations with the Government of Mozambique and start work on this side," it said.
Vale has invested more than $1 billion over the last five years in Mozambique to develop coal mine in Moatize.
It late in August started exports but has been constrained by infrastructure weaknesses in the growing southern Africa country.
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