Brazilian mining company Vale expects to start exporting coal from its Moatize mine in Mozambique in 2011, CEO Roger Agnelli has confirmed.
The mine will eventually produce 40 mtpa of coal, Agnelli told reporters, and the coal will be transported by rail to the eastern port of Beira.
The concession, located in an area with estimated coal reserves of 2.5 bt, has an expected life span of 25 years, says the company. Vale has spent $130M in Mozambique this year, while the total amount invested in projects in the country totals $250M, Agnelli said.
Vale is the world's second-biggest miner and the biggest iron-ore producer.
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