Brazil’s Vale and Australia’s Riversdale Mining invest US$2.1 billion in Mozambique

3 June 2011

Maputo, Mozambique, 3 June – The two main groups involved in coal mining in Mozambique, Brazil’s Vale and Australia’s Riversdale Mining, have so far invested US$2.1 billion in the country, according to the Mozambican press.

This week, an official from Riversdale Moçambique, told Mozambican financial newspaper, O País Económico that US$450 million had been invested in the Benga project, in addition to the US$1.7 billion announced in May by the Brazilian group.

However, these figures are expected to be even higher, as Riversdale has already announced it plans to invest a further US$350 million by the end of the first phase of the project and Vale has said it plans to spend another US$4 billion in Mozambique on a number of projects.

Riversdale Moçambique recently said it would start taking delivery of locomotives and rail trucks to transport the coal mined at Benga along the Sena railroad to the port of Beira. (macauhub)