Vale’s Mozambique Mine Nearly Ready

27 July 2010 (Last Updated July 27th, 2010 18:30)

Vale has completed a major part of its Moatize coal mine in north-western Mozambique. Financial manager Fabio Bechara said the company has completed 75% of the work needed to start production at the mine, according to Radio Mozambique. Vale, the world's biggest miner, has already

Vale has completed a major part of its Moatize coal mine in north-western Mozambique.

Financial manager Fabio Bechara said the company has completed 75% of the work needed to start production at the mine, according to Radio Mozambique.

Vale, the world's biggest miner, has already invested $719m in the $1.3bn mine, which it acquired in 2004.

The mine, located in the Tete province, will begin exporting metallurgical and thermal coal in June next year.