The value of Mozambican coal exports rose 200 percent between the first quarter of 2016 and the same period in 2017, with the product accounting for a full one-third of the value of exports, the Bank of Mozambique has announced. Continue reading
China has lent Zambia and Tanzania $22.4-million to buy locomotives and rolling stock for a railway that carries copper to Tanzania’s Indian Ocean port of Dar es Salaam, a spokesperson for the railway said on Tuesday. Continue reading
XMP Consulting coal analyst and Eskom consultant Xavier Prevost has again argued against the continued large-scale export of coal from South Africa, telling delegates at the Fossil Fuel Foundation’s third Electricity Conference, in Germiston, on Wednesday, that long-term export coal prices would not sustain a viable local industry. Continue reading
South African logistics group, Transnet, said on Wednesday lower global iron-ore prices had not hurt its rail business and it was on track to export a record 62-million tonnes of iron-ore in 2015/16 as quoted by SA news agency Miningweekly.
“We railed some 15.7-million tonnes against a budget (target) of 15.66-million tonnes in quarter one. We are still in quarter two so there is no figure yet. But yes, we are on track (to reach record),” Mike Asefovitz told Reuters in an emailed response to questions. Continue reading
A report by Report By CIP – Center for Public Integrity says “Inflated Exploration Costs Undermining Future Government Revenue”. Extractive sector companies regularly avoid taxes by exaggerating expenses. Through 2012, Anadarko claimed exploration costs in Mozambique of $700 million. One year later they claimed exploration costs of $3 billion. The Government should immediately audit exploration expenses for Anadarko and ENI. The contracts allow for an initial audit of the last three years, with provision to go further back if there has been “manifest disregard of applicable procedure, fraud or willful misconduct.”