Google Website Translator Gadget

Tuesday, December 6, 2011

Vale readies first Moatize coking coal shipment

Tue Dec 6, 2011

LONDON Dec 6 (Reuters) - Brazil's Vale is set to move its first coking coal shipment next week from its Moatize mine in Mozambique, sources said on Tuesday.

This will be the first coking coal shipment, after 3 thermal coal shipments, and is destined for steelmaker ArcelorMittal's South African unit.

"They're loading it now, will finish very shortly," said a source close to Moatize.

Vale last month unveiled a a $6 billion expansion of its Moatize coal project in Mozambique to lift output to 22 million tonnes per year from the 11 million tonnes it expects to mine initially.

(sourced Reuters)

No comments: