Monday, 05 Mar 2012
Macau Hub quoted Mr Paulo Zucula transport minister of Mozambique as saying that the Mozambican government has rejected a proposal put forward last year by Australian company Riversdale Mining and later supported by the Rio Tinto group, to transport coal along the Zambezi River.
He said that the environmental impact of the proposal was very negative and that it was not possible to use river transport to carry coal from Tete province to the coast.
Riversdale Mining proposed, in an initial phase, to carry 2 million tonnes of coal per year on barges along the Zambezi to the port of Beira, which would progressively be increased to 12 million tonnes.
He added that "Every four years we have problems with the Zambezi bursting its banks and killing people and if we dredge the river and widen its banks we are going to have more problems."
The current capacity for carrying the coal by rail from Tete to the port of Beira along the Sena line is limited to 6 million tons per year but the minister gave assurances that the mining companies would not have problems transporting the coal and the government planned to increase capacity on the Sena line and other railroads and port facilities.
Mr Zucula said that "The only problem is one of scheduling as the government is seeking funding to carry out existing plans. By the end of the year the Sena line would have the capacity to carry 10 million tons per year and that in 2013 the port of Nacala would start being repaired and two railroads would be built."
Source - Macau Hub
Showing posts with label Riversdale. Show all posts
Showing posts with label Riversdale. Show all posts
Monday, March 5, 2012
Wednesday, December 21, 2011
UK-listed Beacon Hill exports first Mozambique thermal coal cargo
Wednesday, 21 December 2011
Beacon Hill Resources has shipped its first export cargo of Moatize thermal coal from Mozambique's port of Beira at the weekend, it said Monday in a statement to the London Alternative Investment Market. Beacon Hill's first export shipment comprised 10,650 mt of thermal coal that was trucked to Beira port from the company's Minas Moatize mine in Mozambique's Tete province and was loaded into the vessel MV Aztec Maiden. "The proof of concept of this initial economically viable shipment allows us to evaluate key elements in the supply chain, a process which will be highly beneficial to the group when we commence production of coking coal in Q1 2012," said Beacon Hill chairman Justin Lewis in the statement.
The London-listed coal producer said it was confident of attaining export capacity in Mozambique's Sena railway to Beira port in 2012, which would pave the way for its plan to upgrade production to 2 million mt/year of coking and thermal coal over the next two years.
The company did not disclose the thermal coal cargo's destination, though a possible market could be India, which like Mozambique borders the Indian Ocean.
In the meantime, Beacon Hill is to rely on trucks to transport 500,000 mt/year of its Moatize coal to port, which is more than adequate for the company's production in 2012. Beacon Hill said in its statement that it was having ongoing talks with the Mozambique government, which recently took over the operation of the Sena railway. The company, together with Brazilian miner Vale and Rio Tinto, which now owns Riversdale Mining, is finalizing terms of reference to upgrade the Sena railway to a capacity for coal exports of 6.5 million mt/year by the middle of next year, and to 12 million mt/year by the end of 2012. "Our export capacity will be significantly enhanced by the receipt of an allocation to the Sena rail line, in conjunction with its refurbishment next year," added Lewis.
sourced Platts
Beacon Hill Resources has shipped its first export cargo of Moatize thermal coal from Mozambique's port of Beira at the weekend, it said Monday in a statement to the London Alternative Investment Market. Beacon Hill's first export shipment comprised 10,650 mt of thermal coal that was trucked to Beira port from the company's Minas Moatize mine in Mozambique's Tete province and was loaded into the vessel MV Aztec Maiden. "The proof of concept of this initial economically viable shipment allows us to evaluate key elements in the supply chain, a process which will be highly beneficial to the group when we commence production of coking coal in Q1 2012," said Beacon Hill chairman Justin Lewis in the statement.
The London-listed coal producer said it was confident of attaining export capacity in Mozambique's Sena railway to Beira port in 2012, which would pave the way for its plan to upgrade production to 2 million mt/year of coking and thermal coal over the next two years.
The company did not disclose the thermal coal cargo's destination, though a possible market could be India, which like Mozambique borders the Indian Ocean.
In the meantime, Beacon Hill is to rely on trucks to transport 500,000 mt/year of its Moatize coal to port, which is more than adequate for the company's production in 2012. Beacon Hill said in its statement that it was having ongoing talks with the Mozambique government, which recently took over the operation of the Sena railway. The company, together with Brazilian miner Vale and Rio Tinto, which now owns Riversdale Mining, is finalizing terms of reference to upgrade the Sena railway to a capacity for coal exports of 6.5 million mt/year by the middle of next year, and to 12 million mt/year by the end of 2012. "Our export capacity will be significantly enhanced by the receipt of an allocation to the Sena rail line, in conjunction with its refurbishment next year," added Lewis.
sourced Platts
Thursday, November 3, 2011
Rio Tinto calls for river based solution to transport coal from Moatize
Thursday, 03 Nov 2011
According to Mr Eric Finlayson CEO of Rio Tinto Coal Mozambique, Rio Tinto considers using the Zambezi River to transport coal from Tete to be a better solution than the Nacala railroad.
Mr Finlayson during a visit by the President of Mozambique to Rio Tinto’s facility in the Karratha region, some 1,300 kilometres from the city of Perth, said that the Zambezi was an interesting alternative to the Nacala railroad as the distance between Moatize and the port was 900 kilometres by rail and only 500 kilometres by river.
The two options are a solution to the low transport capacity of the Sena railroad, with a current maximum of 6 million tonnes per year and Brazilian mining company Vale plans to invest in the construction/repair of the railroad between Moatize and the port of Nacala.
Mr Finlayson, cited by the Mozambican press as saying that “Coal resources of billions of tonnes are being developed by Rio Tinto and by Vale, amongst other companies, and the railroad from Moatize to Beira is the only operational facility for transporting the coal and massive investment is needed in infrastructure to achieve significant levels of production.”
During the visit, President Armando Guebuza watched the process of unloading trains, transport of the ore on a conveyor belt to the warehouse, amongst other operations and also visited other facilities.
The chief executive of Rio Tinto, Doug Ritchie, gave the Mozambican government assurances that his company had the technical and financial capacity to carry out the coal project in the central province of Tete successfully.
The Rio Tinto group took ownership of the Mozambican mining assets of Australia’s Riversdale Mining following a takeover bid that ended with the acquisition of the stakes owned by India’s TATA Steel and Brazil’s Company Companhia Siderúrgica Nacional.
(Sourced from macauhub)
According to Mr Eric Finlayson CEO of Rio Tinto Coal Mozambique, Rio Tinto considers using the Zambezi River to transport coal from Tete to be a better solution than the Nacala railroad.
Mr Finlayson during a visit by the President of Mozambique to Rio Tinto’s facility in the Karratha region, some 1,300 kilometres from the city of Perth, said that the Zambezi was an interesting alternative to the Nacala railroad as the distance between Moatize and the port was 900 kilometres by rail and only 500 kilometres by river.
The two options are a solution to the low transport capacity of the Sena railroad, with a current maximum of 6 million tonnes per year and Brazilian mining company Vale plans to invest in the construction/repair of the railroad between Moatize and the port of Nacala.
Mr Finlayson, cited by the Mozambican press as saying that “Coal resources of billions of tonnes are being developed by Rio Tinto and by Vale, amongst other companies, and the railroad from Moatize to Beira is the only operational facility for transporting the coal and massive investment is needed in infrastructure to achieve significant levels of production.”
During the visit, President Armando Guebuza watched the process of unloading trains, transport of the ore on a conveyor belt to the warehouse, amongst other operations and also visited other facilities.
The chief executive of Rio Tinto, Doug Ritchie, gave the Mozambican government assurances that his company had the technical and financial capacity to carry out the coal project in the central province of Tete successfully.
The Rio Tinto group took ownership of the Mozambican mining assets of Australia’s Riversdale Mining following a takeover bid that ended with the acquisition of the stakes owned by India’s TATA Steel and Brazil’s Company Companhia Siderúrgica Nacional.
(Sourced from macauhub)
Wednesday, April 6, 2011
Rio Tinto holds over 49 percent of Riversdale
Wed Apr 6, 2011 9:14am GMT
LONDON, April 6 (Reuters) - Global miner Rio Tinto (RIO.AX: Quote) (RIO.L: Quote) holds over 49 percent of Riversdale Mining (RIV.AX: Quote), beating its target 47 percent holding ahead of a deadline on its A$3.9 billion ($4 billion) takeover offer.
The offer of A$16.50 a share depended on Rio getting to at least a 47 percent stake in Riversdale by late on April 6, otherwise it would have paid A$16 a share.
Rio said in a statement on Wednesday that it now holds 49.49 percent of Riversdale. Earlier in the day, it announced a 46.78 percent holding.
The offer price increase has also triggered an extension of the offer period until April 20. Rio Tinto said last week it would go ahead with its takeover offer for Riversdale even if it ended up with a minority stake in the Mozambique-focused coal miner.
The offer, announced in December, was originally conditional on at least 50 percent acceptances.
(Reporting by Clara Ferreira-Marques; Editing by Julie Crust, reuters)
LONDON, April 6 (Reuters) - Global miner Rio Tinto (RIO.AX: Quote) (RIO.L: Quote) holds over 49 percent of Riversdale Mining (RIV.AX: Quote), beating its target 47 percent holding ahead of a deadline on its A$3.9 billion ($4 billion) takeover offer.
The offer of A$16.50 a share depended on Rio getting to at least a 47 percent stake in Riversdale by late on April 6, otherwise it would have paid A$16 a share.
Rio said in a statement on Wednesday that it now holds 49.49 percent of Riversdale. Earlier in the day, it announced a 46.78 percent holding.
The offer price increase has also triggered an extension of the offer period until April 20. Rio Tinto said last week it would go ahead with its takeover offer for Riversdale even if it ended up with a minority stake in the Mozambique-focused coal miner.
The offer, announced in December, was originally conditional on at least 50 percent acceptances.
(Reporting by Clara Ferreira-Marques; Editing by Julie Crust, reuters)
Monday, March 28, 2011
Rio Tinto still short of 50% on $3.9bln Riversdale bid
Mon Mar 28, 2011
MELBOURNE, March 28 (Reuters) - Global miner Rio Tinto remains short of its target of holding more than 50 percent of shares in Riversdale Mining , ahead of a Monday evening deadline on its A$3.9 billion takeover offer for the Mozambique-focused coal miner.
It had reached just under 40 percent as of Monday morning, Rio Tinto said, with still no word on whether Riversdale's two biggest shareholders, India's Tata Steel and Brazil's CSN , would sell any of their shares.
Riversdale's shareholders will receive A$16.50 a share if Rio reaches more than 50 percent acceptances by 0800 GMT on Monday. Otherwise the offer reverts to A$16 a share, remaining open until April 6.
It had reached just under 40 percent as of Monday morning, Rio Tinto said, with still no word on whether Riversdale's two biggest shareholders, India's Tata Steel and Brazil's CSN , would sell any of their shares.
Riversdale's shareholders will receive A$16.50 a share if Rio reaches more than 50 percent acceptances by 0800 GMT on Monday. Otherwise the offer reverts to A$16 a share, remaining open until April 6.
Monday, March 21, 2011
Rio Tinto extends $3.9 bln bid for Riversdale by 3 days
Mar 20, 2011 11:05pm GMT
MELBOURNE, March 21 (Reuters) - Global miner Rio Tinto has extended its sweetened $3.9 billion bid for Mozambique-focused coal miner Riversdale Mining by three days.
Riversdale shareholders will receive A$16.50 a share if Rio Tinto gets more than 50 percent acceptances by March 28, Rio Tinto said on Monday.
As of Monday morning, Rio Tinto had received acceptances on 34.94 percent of Riversdale shares.
The offer will revert to A$16 a share if it does not reach the 50 percent mark by then, and will remain open for three extra days until April 6. (Reuters)
MELBOURNE, March 21 (Reuters) - Global miner Rio Tinto has extended its sweetened $3.9 billion bid for Mozambique-focused coal miner Riversdale Mining by three days.
Riversdale shareholders will receive A$16.50 a share if Rio Tinto gets more than 50 percent acceptances by March 28, Rio Tinto said on Monday.
As of Monday morning, Rio Tinto had received acceptances on 34.94 percent of Riversdale shares.
The offer will revert to A$16 a share if it does not reach the 50 percent mark by then, and will remain open for three extra days until April 6. (Reuters)
Friday, March 18, 2011
Rio Tinto ups holding in $3.9 billion takeover target Riversdale
Thu Mar 17, 2011 11:19pm GMT
SYDNEY, March 18 (Reuters) - Rio Tinto has received acceptances for 33.04 percent of shares in its $3.9 billion takeover target Riversdale , the global miner said on Friday, after raising its offer for the Mozambique-focused coal miner last week.
The offer is conditional on Rio Tinto reaching 50.1 percent control by March 23.
(Created by Ed Davies, Reuters)
SYDNEY, March 18 (Reuters) - Rio Tinto has received acceptances for 33.04 percent of shares in its $3.9 billion takeover target Riversdale , the global miner said on Friday, after raising its offer for the Mozambique-focused coal miner last week.
The offer is conditional on Rio Tinto reaching 50.1 percent control by March 23.
(Created by Ed Davies, Reuters)
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