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Vale to Shut Mozambique Coal Operations for 3 Months

Coal News - Published on Fri, 29 Nov 2019

Image Source: Vale Mozambique
Vale said that it will place its coal operations in Mozambique on maintenance for three months. The company completed a review of its Moatize coal mines and decided to shift the focus to producing more metallurgical coal and less of thermal coal. Under the new plan, the assets will produce at a rate of 15 million tonnes per year by the end of 2020, up from less than 12 million tonnes last year, but still well short of Vale's target to export 22 million tonnes from the mines in central Mozambique.

This could affect the country's balance of payments and currency, as coal is by far its biggest source of export earnings. Mozambique exported USD 1.7 billion worth of coal last year, with Vale operations in the center of the country accounting for nearly the entire amount.

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Posted By : Yogender Pancholi on Fri, 29 Nov 2019
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