Gecamines offers $1 million to block Chinese deal with cobalt miner Chemaf
Chemaf agreed to sell its assets to Chinese defence and industrial giant, China North Industries Corp, or Norinco in June.
Taipei Times reports:
Brazilian mining giant Vale opened a new US$1.7 billion coal mine in Mozambique yesterday, tapping the southern African country’s thermal and coking coal reserves of about 23 billion tonnes.
Vale plans to start production in July and export 1 million tonnes of coal from the US$1.7 billion project this year, ramping up production to 11 million tonnes in a few years — and, local officials hope, boosting Mozambique’s current economic growth of 6.5 percent.
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