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.
Anadarko today announced a 15-year deal to sell 1.2 million tonnes per annum (mtpa) of Mozambican LNG to French power company Électricité de France (EDF) from its Area 1 project in the Rovuma Basin. The EDF sale [...]
Brazilian mining giant Vale announced on Friday that its coal production in Mozambique more than doubled last year. According to the company’s Q4 2017 results, this was due to a ramp up of the Moatize II unit at the [...]
Brazilian miner and Japanese conglomerate Mitsui signed their $2.73 billion project financing on Monday, with $2 billion coming from Japanese lenders and $700 million from within Africa. The
Brazilian miner Vale has set a date to close its $2.7 billion project finance package for the Nacala Logistics Corridor in Mozambique, after the two biggest participants gave their approval for $2bn worth of lending and credit insurance.