Vale on Friday launched the construction of a $1.3 billion coal project in northern Mozambique, with the capacity to produce 11 million tonnes of coal per year. The plant will be located in Moatize in the Tete province, and the coal produced will be exported to Brazil, Asia, the Middle East and Europe. The project is expected to produce 8.5 million tonnes of metallurgical coal and 2.5 million tonnes of thermal coal, the company said. This should be positive news for Riversdale imo and shows the games on in the area!
RIV Price at posting:
$3.48 Sentiment: Buy Disclosure: Held
