business

Vale Starts Study on Coal Terminal at Mozambique’s Nacala Port

Vale SA, the world’s largest iron ore producer, started studies on building a coal terminal at Nacala port in northern Mozambique, said Rosario Mualeia, chairman of the state-run ports and railways utility.

The project is expected to cost about $1.5 billion, Mualeia, chairman of Caminhos de Ferro de Mocambique, known as CFM, said in an interview on the sidelines of a coal conference in Maputo, the capital.

“Work has begun on the project and the government will come in as a partner through the CFM,” he said, without disclosing who would fund the project.

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