Mozambique Coal Logistics: AfDB to reinforce funding to Nacala Corridor with $300M

The African Development Bank (AfDB) is taking the lead in facilitating the takeoff of one of Africa’s largest infrastructure project− the $5-billion Nacala corridor rail and port project, supporting the project with $300-million from its private sector window.

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Mozambique Coal Logistics: As expected, Vale abandons the Sena line, focus on coal export via Nacala Corridor

  Vale Moçambique, a subsidiary of Brazilian mining group Vale, will stop using the Sena Railroad and the port of Beira for its coal exports, which will be focused on the Nacala Logistics Corridor (CLN) and its deep-water port, said the chairman of the company.

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Mozambique Coal Logistics: Vale Nacala Corridor Project Finance signed, US$ 2,730 billion granted

The Giant Brazilian Mining exploring coal at the Moatize Mine in the central province, of Tete, Vale S.A., announced that all partners in its Mozambique coal logistic joint-venture – the Nacala Logistic Corridor (NLC) – had yesterday signed the binding financing contracts in the form of a project finance, through which NLC will raise US$ 2.730 billion, broken down as follows:

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Mozambique Logistics: Vale diverts its coal exports to Nacala-a-Velha terminal

Vale Mocambique SA, the largest coal exporter company at Beira Port, has decided to switch all its exports to Nacala-a-Velha leading to decline by more than half of mineral exports via central Mozambican port of Beira.

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Mozambique Mining: After Nacala coal terminal inauguration, Country foresees a brighter future for coal industry

The consortium formed by the Brazilian mining giant Vale, the Japanese multinational Mitsui, and Mozambique’s public owned port and rail company, CFM, on Friday formally inaugurated the Nacala Logistics Corridor (CLN), the new railway and coal terminal which Vale believes will be determinant for the success of its coal mining operations at Moatize, in the western province of Tete.

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Mozambique Coal Logistics: Exports from to increase with inauguration of the Nacala coal terminal

The inauguration on Friday of the coal terminal at the port of Nacala-a-Velha and the railway line to transport ore mined at Moatize is expected to increase exports and even make coal the main product exported by Mozambique, the Economist Intelligence Unit (EIU) reported recently.

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Mozambique Coal Logistics: Nacala coal terminal to operate in full speed yet this month

The coal terminal at the port of Nacala-a-Velha, in Mozambique’s Nampula province, will officially start operating on Friday, marking a new phase in the process of transportation and export of coal mined in Moatize, Tete province, the northern logistics corridor company CLN.

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Mozambique Mining: “No Capital Gains in Vale-Mitsui deal” – @Verdade reports

The Mitsui group, Japanese conglomerate, concluded last week the purchase of assets in Mozambique Vale, a Brazilian multinational, for 770 million US dollars. “In this operation, we were not cleared gains” explained the @Verdade the Mozambique Tax Authority (ATM). It is recalled that the private business that happened in the last two decades in the concessions the Port, the railway and the Nacala Development Corridor never generated significant taxes to the Mozambican state.

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Global Mining: Vale names Fabio Schvartsman as new CEO

Vale (NYSE:VALE) confirms the appointment of Fabio Schvartsman as its new CEO to replace Murilo Ferreira in late May. Schvartsman, who has been the CEO of Klabin (OTCPK:KLBAY), Brazil’s largest paper and cardboard producer, for the past six years, had not figured in media reports as a potential replacement for Ferreira until very recently.

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Mozambique Coal Logistics: Nacala Corridor expected to handle 22 million tonnes of coal from 2018

Starting in 2018, coal handling in Northern corridor in Mozambique will increase from 8 million to 22 million tonnes per year as a result of three addenda to contracts of the Nacala Logistic Corridor (CLN) and the Northern Development Corridor (CDN).

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