Mozambique Coal Revenue Falls 7.4% as Flooding Hampers ExportsWilliam Felimao
Mozambique’s revenue from exporting coal fell 7.4 percent in the second quarter as floods hampered exports by Vale SA and Rio Tinto Group, according to the nation’s central bank.
Revenue slid to $81.4 million from $87.9 million a year earlier, central bank spokesman Waldemar de Sousa told reporters. Earnings from power declined 23 percent to $55.5 million, while revenue from aluminum rose 4.8 percent to $306.3 million even as international price fell. Gas earnings climbed 24 percent to $62.4 million.