R/€ = 14.08 Change: 0.01
R/$ = 13.12 Change: 0.03
Au 1284.55 $/oz Change: -2.09
Pt 972.50 $/oz Change: -3.50


Indian-owned Moz coal project to resume operations

By: Keith Campbell     10th February 2017 Indian State-owned overseas coal mining company International Coal Ventures Limited (ICVL) will restart operations at its Benga mine in Mozambique’s Tete province during the course of this year. This was disclosed to the Press Trust of India (PTI) last week by Steel Authority of India Limited... 

Mozambique projects in sights of tax and regulatory authorities at home and abroad

By: Keith Campbell     9th December 2016 Mozambique’s Tax Authority is monitoring the natural resources sector to ensure it collects the capital gains taxes due to it. This was affirmed by Tax Authority President Amélia Nakhare late last month. She was addressing a promotion ceremony for tax officials, at Boane in Maputo province.  

2014 proves tough for mining in Africa  

By: Bruce Montiea     7th November 2014 This year has been tough for the African mining industry, owing to ongoing challenges and threats, such as resource nationalisation, regulatory uncertainty and labour unrest, says Deloitte energy and resources leader Andrew Lane. “Regulatory uncertainty continues across the continent, which... 

Rio Tinto completes sale of Mozambique coal assets

By: Natasha Odendaal     8th October 2014 The sale of mining giant Rio Tinto’s Mozambique coal assets to India-based International Coal Ventures Private Limited has been finalised. This followed the fulfilment of all conditions precedent and receipt of the necessary regulatory approvals for the $50-million sale of Rio Tinto Coal... 

Mozambique benefiting from mining taxes but needs to improve infrastructure

By: Keith Campbell     23rd May 2014 The Economist Intelligence Unit (EIU) has calculated that Mozambique has extracted $1.3-billion in capital gains taxes from transactions involving mining and hydrocarbons projects. This is equivalent to 9% of the country’s gross domestic product (GDP) in 2013. The most recent example was in... 

ZAC refutes underperformance claims by would-be acquirer

By: Leandi Kolver     8th March 2013 The acquisition agreement between Southern Africa-focused coal producer Forbes & Manhattan Coal and mining major Rio Tinto subsidiary Riversdale Mining was not cancelled because of Zululand Anthracite Colliery’s performance says ZAC black economic-empowerment partner Maweni Mining Consortium... 

Rio Tinto’s $3.9bn Mozambique coal bid may be scuppered by lack of rail, port capacity

By: Bloomberg     1st March 2013 Rio’s $3 Billion Mozambique Coal Bid Runs Off the Rails: Freight  Rio Tinto Group’s foray into Mozambique, which cost the world’s No. 2 mining company $3 billion, has highlighted a lack of rail and port capacity that threatens to check a coal boom in the southeast African nation. Rio bought coal... 

Forbes cancels Riversdale acquisition 

By: Natasha Odendaal     15th February 2013 TSX- and JSE-listed Forbes & Manhattan Coal on Friday said it had cancelled an acquisition agreement with Riversdale Mining after the takeover target’s Zululand Anthracite Colliery (ZAC) underperformed. The company said in a statement that the performance of Riversdale’s 74%-owned ZAC had... 

Some power to flow to Southern African grid from Benga, Rio says

By: Terence Creamer     21st June 2012 Mining group Rio Tinto says there is likely to be an offtake allocation available for the Southern African power pool from its proposed Benga coal-fired power generation plant, which is being prepared for development in the Tete region of northern Mozambique. The company is currently seeking... 

Rio seeks interest from possible developers of 600 MW Moz power plant

By: Terence Creamer     18th June 2012 Global mining group Rio Tinto has issued a call for expressions of interests for potential developers and operators of its Benga power plant, which has been proposed for development in the Tete region of northern Mozambique. The facility, which would be located on the miner’s Benga mining... 

Company Announcement: PMI Appoints Experienced Mining Finance Executive as London-Based Director

     14th June 2012 PMI Gold Corporation is pleased to announce the appointment of experienced mining finance executive Dr. Michael Price as a new London-based Non-Executive Director, further strengthening its Board as it moves towards gold production in West Africa. 


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