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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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Tuesday, 21 October 14
INDIA'S DIESEL DEREGULATION POSITIVE FOR OIL COMPANIES - FITCH
The Indian government's 18 October decision to deregulate diesel prices will have a positive effect on the national oil marketing companies tha ...
Tuesday, 21 October 14
LOW DEMAND PUTTING COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost on day, week and month.
The swap has lost US$ 1.57 (-3.04%) month on month ...
Monday, 20 October 14
CHINA'S ENVIRONMENTAL POLICIES DO NOT SPELL THE END FOR COAL - WOOD MACKENZIE
China's environmental policies do not spell the end for coal Analysis across energy commodities show coal still accounting for 64% of power mix ...
Monday, 20 October 14
CFR SOUTH CHINA COAL SWAPS FAILED TO PERFORM POSITIVE
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 3.04 (-4.57%) month over month and US$ 1.75 (-2.68%) week o ...
Sunday, 19 October 14
LOW DEMAND PUSHES DOWN COAL FREIGHT RATES; VOLATILITY CONTINUES
COALspot.com: This week all the segments softened including BDI except for Panamax index.
The BDI was down by1.70 pct and clsoed at 944 points ...
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