Mozambique: UK’s CAMEC gives up on selling coal assets

7 November 2008

London, United Kingdom, 7 Nov – The Central African Mining and Exploration Co. (CAMEC) said Wednesday in London that it had given up on the sale of coal assets in Mozambique and South Africa.

The sales, “no longer make sense underc urrent market conditions,” said CAMEC, which is a large producer of copper and cobalt, in a statement issued on the London Stock Exchange.

The same statement said that the British company had seen a 90 percent increase in sales to US$184.5 million in the first nine months of the year, with cobalt sales totalling 422 tonnes and copper sales of 1,500 tonnes. (macauhub)