miningmx

New Mozambique coal, oil port approved

Reuters | Fri, 08 May 2009 12:26
Share
[miningmx.com] -- State-run Mozambique Ports and Railways company (CFM) received the go-ahead for the building of a new deep-water port to handle at least 50 million tonnes of heavy cargo per year, a senior official said on Friday.

CFM's Chief Executive Rui Fonseca said the project, first discussed in 2000, was delayed due to a lack of environmental permits given its proximity to tourist areas, and financials, but construction was now expected to start in two years.

The $550 million port will be developed in partnership with British-based Porto de Dobela (PDD) and is expected to generate annual revenues of at least $300 million, he said.

"The project has the nod to go ahead ... in two years we will roll it out. All the technical aspects have been concluded, (we are) now closing deals with financiers," he said, without providing details.

Fonseca said CFM decided on the new port as the existing terminals at Maputo and Matola could not handle large quantities of coal and petroleum products.

The port will be built in the district of Matutuine, on the coast of the southern province of Maputo.

He said the new port is expected to harbour vessels with a cargo capacity of up to 300,000 tonnes each.

The port will be used to distribute fuel from the 350,000 barrels-per-day refinery to be built in the same area, and to export coal from Botswana and South Africa.

The port, to be based closer to South Africa's chief coal producing areas than the country's own Richards Bay Coal Terminal, could help coal producers save on transport costs.



USER COMMENTS () Click to View
COMMENT
SHARE
E-MAIL
PRINT
Add Your Comment
No bad language or hate speech please.

facebook de.li.cious Digg
special reports
News Alert! Subscribe to our Free News Alert
Most Read
Commented
Ed's Choice
  1. »ArcelorMittal checks its management system
    by Brendan Ryan | 28 Jul 2010 13:59
  2. »ArcelorMittal to drop steel prices
    by Brendan Ryan | 28 Jul 2010 07:52
  3. »Bernard Swanepoel to chair Simmers
    by Brendan Ryan | 27 Jul 2010 18:14
  4. »First Uranium recovers some lost ground
    by Brendan Ryan | 29 Jul 2010 09:52
  5. »Aquarius considers temporary closure of Blue Ridge
    by Brendan Ryan | 29 Jul 2010 11:05
  1. » Kebble's final moments described
    by Sapa | 26 Jul 2010 15:56
  2. » Investec to sub-manage $190m Nomura fund
    by I-Net | 27 Jul 2010 11:59
  3. » Subsidise the steel, or let it flounder
    by David McKay | 25 Jul 2010 10:25
  4. » De Beers guarantees Ponahalo deal
    by David McKay | 23 Jul 2010 14:30
  5. » SA govt says Kumba, Amsa will settle
    by Reuters | 19 Jul 2010 19:16
  1. » ArcelorMittal to close Saldanha plant
    by Brendan Ryan | 16 Jul 2010 14:17
  2. » Kumba, Arcelor set for Monday pow-wow
    by Jan de Lange | 18 Jul 2010 08:33
  3. » Aquarius Platinum shares plunge
    by Brendan Ryan | 19 Jul 2010 10:42
  4. » Amsa warns of beneficiation review
    by Jan de Lange | 19 Jul 2010 08:53
  5. » Labat buys Aurora gold plants for R38m
    by I-Net Bridge | 20 Jul 2010 16:36
More Archive news
  • › Anglo reports falling production
  • › Who's backing KCM?
  • › ARM's ferrous ops still profitable
  • › Intl Ferro Metals unveils empowerment plan
  • › ARM, Vale mull $300m Zimbabwe investment
  • › Escondida copper output to fall 30%
  • › Zambia raises resource nationalisation fears
  • › Mintails gets new SA boss
  • › Union wants 15% wage hike from SA gold firms
  • › Chastened Rio stands by Chinalco deal
  • › DRC to move quickly on disputed contracts
  • › Congo rejects proposals by 6 big mining firms
  • › TanzaniteOne pushes through resolutions
  • › Merafe hopes for ferrochrome price recovery
  • › Anglo raises $1.5bn, eases debt burden
  • › Anglo sees its $11bn debt as "sustainable"
  • › Rio's aluminium output slides
  • › TanzaniteOne sterilises large voting bloc
  • › SA defends state-owned mine firm plans
  • › Lean times ahead for Aquarius
    • multimedia

    Multimedia

    LATEST PODCAST | July 23 podcast | 23 Jul 2010 - › More
    Mine safety is up for discussion this week and we speak to the DME about Aquarius Platinum’s safety ... Listen ›
    RADIO WRAP | More ›
  • › Gold One can sit out a long strike - Froneman |
  • › First Uranium rescue plan good for Simmers too - Bernard Swanepoel |
    • LATEST PODCAST | June 22 Podcast | 23 Jun 2010 - › More
    Will Australia’s imminent super tax on mining profits pave the way for other governments to take sim ... Listen ›
    RADIO WRAP | More ›
  • › Gold One can sit out a long strike - Froneman |
  • › First Uranium rescue plan good for Simmers too - Bernard Swanepoel |
    • podcastsPodcasts
    Big opinions by big guys.     RSSRSS Feeds
    News delivered really simply.
    jobsJobs
    Current listings.     eventsEvents
    Current listings.
    jseJSE Listed stocks
    Real time resources data.
    special reportsFREE News Alert!
    Subscribe to our News Alert