Vale informed it on Friday that is evaluating to exercise the option of purchase of 51 percent of Insitec, company of Mozambique lady of rail and port concessions, what would make possible the expansion of her project of coal (Moatize) in that country.
On this Friday, the mineradora signs in Mozambique protocol of intentions with the government and Insitec, shareholder of the constituent Corredor de Desenvolvimento de Nacala (CDN). The protocol will be signed by the minister of Transports and Communications of Mozambique, Paulo Zucula; for the director-president of the valley, Roger Agnelli; and for the president of Insitec, Celso Corrêa.
According Vale, the objective is to reproduce the model of integration mine-railroad-port used with success in Brazil.
“Make feasible this corridor logístico will make possible the expansion of the coal mine of Moatize, and it will facilitate the development of the mine of phosphate of Evate, projects moçambicanos that you/they are now in study phase, besides allowing in the future the drainage of the copper to be produced for the it is Worth in Copperbelt of Zambia”, it informed the company in note.
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The project Moatize foresees the initial production of 11 million tons of coal, that already has insured logistics. The purchase of the actions of Insitec would be to guarantee the expansion of Moatize for 24 million tons.
“We are examining the viability of railroad of Moatize Nacala, involving construction of rail connection with approximately 180 kilometers of extension between Moatize and Lirangwe, in Malawi”, it informed Vale.
Besides, the company evaluates the rehabilitation of 730 kilometers of the railroad already existent connecting Malawi to Mozambique, and the development of a marine terminal of deep waters… in Nacala”, it complemented the company.
“This project will promote Africa Oriental development, with prominence for countries as Mozambique, Zambia, Malawi and Democratic Republic of Congo, where important reservations of coal, copper and phosphate and enormous agricultural potential” exist, he declared in the note the president of Vale, Roger Agnelli, that this week announced investments of 12,9 billion dollars for 2010.
The executive has been pressed by the Brazilian government to invest more in Brazil, that will receive 63 percent of the announced total. Agnelli has been demonstrating however that the company also needs to expand internationally. Besides the protocol in Mozambique, Vale announces it on this Friday of an auction in Mongolia, also for exploration of coal.
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