Reuters reported that Mozambique's deputy mines minister, Abdul Razak Noormahomed, said Tuesday that the country may raise royalty taxes on coal, a key export.
Articles Tagged "mozambique"
Reuters reported that Vale SA (NYSE:VALE) intends to sell a 15- to 25-percent stake in its coal operations as it works to bring in funding, cut capital commitments and help mitigate risk. The company has already seen interest from potential partners.
Mineweb reported that attendees of the Coaltrans Mozambique conference were told that the country's major coal producers, such as Rio Tinto plc (ASX:RIO,LSE:RIO,NYSE:RIO) and Vale SA (NYSE:VALE), need to decrease their logistics costs in order to become profitable.
Reuters reported that in June 2014, Mozambique plans to launch a round of bidding for coal mining in its Tete and Niassa provinces. As yet, the number of blocks on offer has not been revealed.
Reuters reported that many coal mine investments over the past 10 years were driven by Chinese demand for the fuel. As a result, the country's plan to address pollution is now threatening major coal projects in locations such as Australia, Indonesia and Mozambique.
The Wall Street Journal reported that Rio Tinto plc (ASX:RIO,LSE:RIO,NYSE:RIO) is thinking of selling all or part of its Mozambique-based coal unit and is in the process of choosing a financial advisor to help it do so. The news follows Rio's decision earlier this week not to sell its diamond unit.
Japan is joining Asia’s battle for coal resources. Who will benefit from the rush for new supply?
The US Geological Survey estimates that the coastal areas of Mozambique and Tanzania could hold more than 250 trillion cubic feet of gas. After decades of being overshadowed by other gas-rich areas, this Southern African nation is proving a rich hunting ground for natural gas exploration.
A brief overview of gas price developments, supply and demand and significant market movers.
Reuters reported that the coal boom in Mozambique holds opportunity for many but presents major challenges for the country.