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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, 26 August 09
COAL INDIA MAY HIKE COAL PRICES BY UP TO RS 175 (ABOUT US$ 3.60) A TONNE
The Economic Times reported that, state-owned Coal India may hike coal prices by up to Rs 175 (~ US$ 3.60) a tonne to close the gap between domestic ...


Tuesday, 25 August 09
KOREA TO INTRODUCE COAL-MINING ROBOTS TO REDUCE THE RISK OF HUMAN LOSSES FROM CONVENTIONAL MINING
Far East Gizmos reported that, The state-run Korea Coal Corp. (KOCOAL) signed a memorandum of understanding (MOU) on Monday with three Korean engine ...


Tuesday, 25 August 09
INDIA'S GNFC EXTENDED ONLINE BIDDING FOR PURCHASE OF 260,000 T COAL TO 23RD SEPTEMBER 2009
COALspot.com (India): Gujarat Narmada Valley Fertilizers Co. Ltd. (GNFC) invites offers (e-Tender) for supply of 130,000 MT +/- 5% on firm basis and ...


Tuesday, 25 August 09
ANTAM CONSIDERS ACQUIRING BHP
The Jakarta Post reported that, State mining company PT Aneka Tambang (Antam) is contemplating acquiring BHP Billiton's coal concessions in Central ...


Tuesday, 25 August 09
COAL OUTPUT TO RISE IN H2 BUT EXPORTS TO GO FLAT
The leading english news paper in Indonesia reported that, It is estimated coal production will rise by 5.7 percent in the second semester from a ye ...


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