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Monday, 07 September 09
VALE SPENT $300 MILLION AT MOZAMBIQUE COAL MINE


Bloomberg rported that, Vale SA, the world’s biggest iron- ore producer, has so far spent about $300 million of the $1.3 billion investment in its Moatize coal mine and should begin selling fuel from the project by June 2011.

Vale may export coking coal to Europe, Brazil, Egypt, Japan, Korea and China, and steam coal to India and Pakistan, Fabio Bechara, a financial general manager at Vale, said in a presentation at the Coaltrans conference in Johannesburg today.

Annual output from the mine will be about 12 million metric tons and environmental requirements have been met, Bechara said, adding that the company will start moving more than 5,000 people who currently live on the site “in the second semester.” Vale is studying a 600 megawatt power plant and plans to build a new terminal at Mozambique’s Beira port, he said.

Vale plans to boost companywide capital spending this year by 40 percent to about $14 billion to increase output and shipments of iron ore, coal, nickel and other metals, anticipating a rebound in demand.
Source: Bloomberg



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Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...


Friday, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...


Friday, 09 October 09
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Friday, 09 October 09
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