Vale Mozambique, the Vale group of Brazil’s subsidiary in the African country, has told the Mozambique media that it plans to produce 20-million tons a year (Mt/y) of coal by 2021. The information was released in Maputo by Vale Mozambique financial director Marcelo Tertuliano.
Read MoreBrazilian mining major Vale is maintaining its guidance that its Moatize operation, in the Tete province of Mozambique, will reach a production rate of 18-million tons (Mt) next year. It gave this assurance in its recently published report ‘Vale’s production and sales in 1Q18’. (1Q18 refers to the first quarter of 2018.)
Read MoreThe Tete Province in Mozambique hosts major coal resources Last year, for the first time since 2010, Brazilian mining group Vale’s Moatize coal operation, in Mozambique, recorded positive earnings before interest, taxes, depreciation and amortization (Ebitda). Moatize is now the group’s only coal operation, following the sale of its last Australian coal operation, Carborough Downs, in late 2016. Moatize is run by a Vale subsidiary, Vale Moçambique, which is majority-owned by the Brazilian parent, with Japanese and Mozambican minority shareholders.
Read MoreVale Adjusted EBITDA of coal was US$46 million in 3Q17, reaching a positive result for the fourth consecutive quarter, US$ 111 million lower than 2Q17 as a result of lower prices (US$ 97 million) and net impact of higher tariff Nacala corridor (US$ 13 million), which were partially offset by lower mine costs (US $ 16 million).
Read MoreVale Moçambique, a subsidiary of Brazilian group Vale, has hired South African company SVI Engineering to build and bullet proof 110 locomotives in operation in the country following some armed attacks, according to the defenseWEB website.
Read MoreThe Moatize coal mine, in the Tete province of Mozambique, set a new quarterly production record during the first quarter of this year (1Q17), pushed by two monthly production records, set in January and March. Moatize is owned and operated by Vale Mozambique, the local owned subsidiary of Brazilian major mining group Vale SA. (Vale Mozambique is 80%-owned by Vale, 15% by Japanese group Mitsui and 5% by the Mozambique government.).
Read MoreVale (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
Read MoreMining company Vale Moçambique recorded a loss of US$100 million in the second quarter of 2016, compared with a loss f US$112 million in the first quarter, according to its parent company, Brazilian group Vale.
Read MoreMining services and construction provider Wirtgen South Africa (SA) has supplied its biggest surface mining model, the 212 t 4200SM, to diversified miner Vale’s Moatize coal mine project, in Tete, Mozambique.
Read MoreWorkers at Vale’s Moatize coal mine in Mozambique have been on strike since Tuesday due to a dispute over bonus payments, the company said on Wednesday.
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