Vale and Mitsui have lost control of the Nacala port in northern Mozambique, after the concession held by their joint venture company was handed back to state ports and rail company CFM by the government yesterday. The [...]
Brazilian mining giant Vale announced this week a “reassessment” of its strategy for mining coal in Mozambique, but the company’s problems go back years and are more complex than its announcement suggests, according to analysts.
Anadarko and its partners formally took the Final Investment Decision on their 13 million tonnes per annum LNG project at a ceremony in Maputo last night, attended by President Nyusi and heads of state from across the region.
Welcome to Zitamar’s daily Mozambique briefing for 31 May 2019 Agenda:
- Today and tomorrow: Donor Conference in Beira aiming to raise $3.2bn for post-cyclone reconstruction
Nine people have died and thousands have been left homeless by the flooding in Tete that has caused almost MZN 1 billion ($16 million) worth of damage to infrastructure in the province. The bridge over the Revubue, which connects Moatize with the city of [...]
- Gunvor is paying for the $20 million refurbishment of Nacala fuel terminal, and is negotiating rights to all non-coal capacity on the Nacala rail line, sources say - Traders fear the deal will give the Swiss-based commodities trader control of fuel sales to Mozambique’s [...]
The European arm of Japan’s Mitsui Sumitomo Insurance Company (MSI) has signed a partnership agreement with Mozambique-based ICE Seguros to target Japanese corporate customers in Mozambique. MSI said “sizeable [...]
Investors are queueing up to take a 10% stake in the Anadarko-led Offshore Area 1 LNG project in Mozambique’s Rovuma Basin should a Japanese state-owned company decide to dispose of its interest in the project, the CEO of Mitsui said on Wednesday. [...]
Vale’s coal operations have made an annual profit for the first time since 2010, thanks to an expansion of its mines in Mozambique, the start of operations on its rail-to-port Nacala logistics project, and higher global coal prices.