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. Advertisements

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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 Mining: Vale Nacala Project Finance to be signed on November 22

The Nacala Project Finance proceeds as planned, with the approval of the NEXI and JBIC Councils taking place during 3Q17, Vale says in its latest 3Q17 Performance Report. Now with all creditors (including AFDB, ECIC and commercial banks) completing their approvals, the next step is the signing of Project Finance, which will take place on November 22, 2017.

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Mozambique Mining: Vale coal operations with positive results in the fourth consecutive quarter

Vale 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).

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Mozambique Mining: Vale orders bullet proofing for coal trains

  Vale 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.

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Africa Coal Logistics: Vale Logistics is set to launch US$1B trans-Malawi railway

Vale Logistics is set to launch its US$1billion trans-Malawi project to move over 18 million tons of coal from its sister Moatize Coal Mines in Mozambique and pass through Mwanza, Chikhwawa, Neno, Balaka and Machinga districts in Malawi on the way to the Indian Ocean Port of Nacala on the Mozambican Eastern side.

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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 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: IFC close to US$2.7 bln debt refinancing for Nacala Corridor

The International Finance Corporation, part of the World Bank, expects to close a $2.7 billion debt refinancing for the Nacala Corridor railway project in Mozambique early next year, a senior IFC official said on Friday.

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