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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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Sunday, 26 October 14
CAPE'S STRONG PERFORMANCE PUSHES BDI INDEX UPWARDS
COALspot.com: The BDI was up by 26.27 pct and closed at 1192 points week and week. The Cape size performance has pushed up BDI and Cape size index ...
Friday, 24 October 14
WEEKLY U.S COAL PRODUCTION DOWN 2.7% FOR THE WEEK ENDING OCTOBER 18
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.7 million short tons (mmst) of coal in ...
Thursday, 23 October 14
THE BEARS, HOWEVER, STILL CRY; FOR HOW LONG WILL IT LAST? - FEARNLEYS
Handy
"We experience a typical oversupply of ships in the Atlantic which causing rates to slide. In the USG it is just enough cargoes to kee ...
Wednesday, 22 October 14
MARKET INSIGHT - THEODORE NTALAKOS, INTERMODAL
ECO designs - revisited
The ECO vessels are already here but the oil and bunker prices are plummeting to their cheapest level since 2010. Is this ...
Wednesday, 22 October 14
CAPESIZE MARKET REMAINED UNDER PRESSURE
COALspot.com: The Dry Bulk market closed on the red for yet another week although following Friday sentiment has started to improve on the back of ...
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- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
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- Mercuria Energy - Indonesia
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- Economic Council, Georgia
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- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
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- Global Business Power Corporation, Philippines
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- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
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- Parliament of New Zealand
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- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
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- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
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- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
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- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
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- Petrochimia International Co. Ltd.- Taiwan
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- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
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- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Dalmia Cement Bharat India
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- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
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- The State Trading Corporation of India Ltd
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- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
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- Altura Mining Limited, Indonesia
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- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
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- Planning Commission, India
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- Aditya Birla Group - India
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- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
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- Wilmar Investment Holdings
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- Electricity Authority, New Zealand
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