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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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Wednesday, 30 September 09
INDIA CEMENTS SET TO PRODUCE POWER; EYES COAL MINE IN INDONESIA
Financial Express reported that, Tamil Nadu-based India Cements Ltd (ICL) has firmed up plans to produce power to meet its current and future requir ...


Wednesday, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
Business Standard reported that, Driven by surge in imports of coking coal by China, growth in Japanese steel output and signs of recovery in the In ...


Wednesday, 30 September 09
PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
The Jakarta globe reported that, In what could be construed as a resignation speech from a government official — but perhaps wasn’t &mda ...


Tuesday, 29 September 09
MINING AND ENERGY DAY 2009
The Minister of Energy and Mineral Resources, Purnomo Yusgiantoro led the ceremony marking 2009 Mining and Energy Day celebrations, held at the Depa ...


Tuesday, 29 September 09
BUKIT ASAM REDUCES ITS SALES TARGET
Tempo Interactive reported that, PT Tambang Batubara Bukit Asam Tbk has decided to reduce its sales target this year from 14.5 million tons of coal ...


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