http://www.macauhub.com.mo/en/news.php?ID=9819Mozambique to...

http://www.macauhub.com.mo/en/news.php?ID=9819

Mozambique to grant more concessions for coal mining projects [ 2010-07-22 ]


Maputo, Mozambique, 22 July The Mozambican minister of Natural Resources, Esperana Bias, said in Maputo that new coal mining projects in the areas surrounding the Moatize coal basin could be granted concessions, soon.

According to the minister, in that area of Tete province there are areas in which surveying work is at an advanced stage, with positive results.

Amongst the projects that are earmarked for concession are the Zambezi coal project, promoted by Riversdale Mining, as well as those of the Ncondezi and JPSW companies, Bias said.

Speaking at the International Coal Conference, the minister noted that in the medium term there would be better geological information about other coal basins in the country, with the hope that it will also be possible to mine them.

There are currently conditions for production and annual export of tens of millions of tons of coal from the Moatize coal region. There are geological resources, financial availability of investors and secure markets for the sale of the products, Bias said.

Two important projects are currently being developed in Tete: One by Brazils Vale, with estimated investment of US$1.3 billion and that of Australias Riversdale Mining, costing some US$849 million. (macauhub)