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Monday, 10 November 14
MOZAMBIQUE SIGNED CONTRACT WITH ETA STAR OF UAE FOR OPEN CAST COAL MINE IN TETE - AIM
 - ETA Star to build slurry pipeline over the 600 kilometers to Beira in Mozambique to transport coal.
- The viability studies show the presence of 1.9 billion tonnes of coal in the concession area of ETA star in Mozambique
COALspot.com: Mozambique’s Minister of Mineral Resources, Esperanca Bias, on Thursday signed contracts for two more open cast coal mines in the western province of Tete, with the Eurasian Natural Resources Corporation (ENRC) of Kazakhstan, and ETA Star of the United Arab Emirates, as reported by AIM.
Minister of Mineral Resource said that the signing of these two important contracts demonstrates investor confidence in the economic and business potential of Mozambique.
According to AIM, Mozambique News Agency, the contract with ETA Star is for a mine in Moatize district covering 4,000 hectares, 40 kilometres from Tete city.
The viability studies show the presence of 1.9 billion tonnes of coal in the concession area. In the initial stage of mining the company intends to produce four million tonnes of high quality thermal coal a year, but at a later stage this could be increased to 10 million tonnes or more a year, according to the director of ETA Star-Mozambique, Mubarak Hussein, as reported by club of Mozambique.
Hussein said the headache of moving the coal to port could be solved by building a slurry pipeline, in which the coal would be mixed with water and pumped over the 600 kilometers to Beira. He claimed this would be an environmentally-friendly solution to the logistics problem. No decision on this has yet been taken and the matter is under discussion with the government, as reported by AIM.
ETA star is also planning to establish a consortium to build slurry pipe line.
ETA-Star is investing 250 million dollars in the mine, and production is expected to start by the end of 2015. There will be 560 jobs at the mine, and Hussein guaranteed that 90 per cent of them would be for Mozambicans.
According to media, he, Hussein, admitted that the major challenge facing the company “is the international price for coal, which is currently very low. But we don’t expect it to remain low for long. We see this as a long term investment”.
The government of Mozambique also signed an agreement with ENRC.
Source: AIM and other Medias
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Friday, 31 October 14
BUKIT ASAM'S NET PROFIT ROSE 27.42% FOR THE PERIOD JANUARY - SEPTEMBER 2014
COALspot.com: Publicly listed coal miner Bukit Asam reported solid profits in the first nine months of 2014 year.
Coal miner Bukit Asam manage ...
Friday, 31 October 14
U.S PRODUCED AROUND 19.3 MMST OF COAL IN A WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 30 October 14
COAL & GRAINS SUPPORT PANAMAX AND IRON ORE SUPPORTS CAPES
Handy
The Atlantic market has been flat this week. Rates are up about US$ 200 from last week on the TA´s, but the volumes are about the sam ...
Thursday, 30 October 14
DOES A LOU ARBITRATION AGREEMENT FOR THE UNDERLYING CARGO CLAIM COMPLETELY REPLACE THE BILL OF LADING ARBITRATION CLAUSE? - INCE &CO
KNOWLEDGE TO ELEVATE
In the context of cargo claims brought under four bills of lading, the Commercial Court has recently considered whether a ...
Wednesday, 29 October 14
GOOD REASON WHY Q4 CAPESIZE OUTLOOK WAS SO BULLISH AT START OF THE YEAR - COMMODORE RESEARCH
COALspot.com: There was good reason why so many analysts' capesize outlook for Q4 was so very strong at the start of this year. Brazilian ...
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- Thiess Contractors Indonesia
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- Mintek Dendrill Indonesia
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