Browsing: Vale

Business Commodity House 2 in Maputo, home to ExxonMobil in Mozambique
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Property developer Grit Real Estate Income Group appears to be cashing in on the anticipated resource boom in Mozambique, as oil and mining companies are estimated to be paying a total of around $5-6 million a year in rent for their offices and luxury flats in Maputo and Tete. Anadarko is [...]

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Coal The flood-damaged bridge over the River Revuboe. Photo © Fungai Caetano / Zitamar News
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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 [...]

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Coal Vale and community representatives signing the agreement on 20 February 2019. Photo © Fungai Caetano / Zitamar News
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Brazilian mining company Vale has agreed to make a $1.67 million payout to compensate a community of brick-makers in Moatize, who lost their livelihoods when work began at the mine ten years ago. Representatives of the two parties signed a memorandum of understanding in Moatize on Wednesday, [...]

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Storage & Warehousing The Nacala railway. Photo: Mitsui
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- 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 [...]

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