Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Japan, Mozambique to Cooperate on Oil, Gas, Coal Development

Feb. 16 (Bloomberg) -- Japan and Mozambique will cooperate on the development of coal, oil and natural gas in the southern African country as global competition to secure natural resources intensifies.

A memorandum of cooperation was signed today in Tokyo with Mozambique’s mineral resources ministry, the Ministry of Economy, Trade and Industry of Japan said in a statement. The agreement also covers the participation of Japanese companies in development projects, according to the statement.

Nippon Steel Corp. and Posco, the largest steelmakers in Japan and South Korea, are investing in the $600 million Revuboe coking coal project in Mozambique. Coking coal and iron ore are the key raw materials used to make steel.

Eni SpA, Italy’s largest oil company, yesterday reported a second “giant” natural-gas discovery off Mozambique, near the Mamba South find that it made last year.

To contact the reporter on this story: Masumi Suga in Tokyo at msuga@bloomberg.net

To contact the editor responsible for this story: Rebecca Keenan at rkeenan5@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.