Rio Tinto seeks logistics solution to transport coal mined in Mozambique

6 February 2013

The Rio Tinto group is in talks with the Mozambican government whilst seeking an alternative logistics solution to transport coal mined in Tete province, the president of the diamond and mining division of the group said in Cape Town.

During the 19th Mining Indaba conference, held in Cape Town from 4 to 7 February, Alan Davies said that the group’s priority was to find a solution that is mutually agreeable to both sides in order for the asset to start being explored.

The group recently announced a write down of US$3 billion related to the acquisition of mining assets in Mozambique from Australian group Riversdale Mining, less than two years after the deal was closed.

The group also announced a write down of US$11 billion related to the acquisition of bauxite assets in Canada, which led to chief executive Tome Albanese stepping down. (macauhub)