Mitsui

Mozambique Mining: “Project Finance for Nacala Logistic Corridor concluded” – Vale

Posted on by Mozambique Resources Post

Vale informs the conclusion and drawdown of the proceeds from the Project Finance for the Nacala Logistics Corridor (NLC), as announced on November 27th, 2017.

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

Posted on by Mozambique Resources Post

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

Posted on by Mozambique Resources Post

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

Posted on by Mozambique Resources Post

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

Posted on by Mozambique Resources Post

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: “Brighter future for coal industry ahead” – EIU report

Posted on by Mozambique Resources Post

Coal will be Mozambique’s top exportrevenue earner over the medium term, according to the Economist Intelligence Unit (EIU). This will be the result of improving security in the central region of the country and rising global coal prices. Details of the EIU report were released by Portuguese news agency Lusa.

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

Posted on by Mozambique Resources Post

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

Posted on by Mozambique Resources Post

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 Mining: Vale Board agrees to new terms for sale of Moatize Mine and Nacala Logistics assets to Mitsui

Posted on by Mozambique Resources Post

Vale (NYSE:VALE) says it reached agreement on new terms with Mitsui (OTCPK:MITSY) for the sale of a stake in its Moatize coal mine and connected railway in Mozambique.C

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