[miningmx.com] – MOZAMBIQUE has switched its attention to developing offshore gas resources signalling the end of the country’s coal rush, said Reuters.
“At this stage Mozambique is not a coal story any more,” Thea Fourie, Africa economist at IHS, a financial and risk consultancy, told the newswire. “It’s very expensive, very uncompetitive and they need a lot of added capacity,” she said.
The gas rush is intact, but the coal boom has come apart at the seams, hobbled by low prices, overblown expectations, and a rail and port network that remains woefully inadequate, said Reuters.
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