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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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Tuesday, 08 September 09
INDIA MAY HAVE A JOINT WORKING GROUP FOR COAL WITH INDONESIA: SRIPRAKASH JAISWAL - PRESS RELEASE
Press Information Bureau of India reported in its web site that, The Coal Ministry has, in principle, agreed to set up a Joint Working Group for coa ...


Tuesday, 08 September 09
INDONESIA OFFERS AN OPPORTUNITY TO INDIANS
Meri News reported that, Indonesia is all set to launch the country's second 10,000 MW accelerated power expansion programme. The new power develop ...


Tuesday, 08 September 09
BUKIT ASAM AIMS 14 MLN TONS COAL PRODUCTION
VIVA News reported that, The rise in coal production is mainly triggered by the step-up in domestic demand. Coal mining company PT Tambang Batuba ...


Tuesday, 08 September 09
MERCHANT BANKERS ADVISE CIL ON INDONESIAN MINE BUYS
Business Standard reported that, State-owned Coal India Ltd (CIL) is being advised by four to five merchant bankers on acquisition of coal assets in ...


Tuesday, 08 September 09
THE 3RD ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2009 - PRESS RELEASE
The 3rd Asia Pacific Coal Trading & Investment Outlook 2009 Analysis of Asia Coal Market amid Global Financial Crisis  COALspot.com(Chin ...


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