Brazil’s Vale and Australia’s Riversdale Mining agree on use of Beira port coal terminal

5 July 2010

Maputo, Mozambique, 5 Jul – Mozambique’s state port and railways corporation (CFM) has signed a note of understanding with Brazil’s Vale and Australia’s Riversdale mining companies regarding use of the existing coal terminal at the port of Beira.

CFM indicated that the note of understanding signed on Friday guarantees that the port will be able to process 5 million tonnes of coal per year to be exported by the two companies from concessions in Moatize, Tete province.

It specifies that 68 percent of the terminal’s capacity will be used by Vale and the remaining 32 percent by Riversdale per the contracts still to be signed by the two companies and CFM.

The amount of coal Vale and Riversdale plan to eventually export is far above the capacity of Beira’s existing coal terminal. A new terminal is therefore planned, which should begin operations in 2013. (macauhub)