Zimbabwe lithium miners want royalties to be linked to prices
The battery metal has slumped from a peak in late 2022 amid oversupply and weak demand from the electric vehicle sector.
Just one week following Anglo American’s approval of a $1.7 billion met-coal project in Queensland, the London-listed diversified miner may be shopping for more coal assets.
Business Day is reporting that Anglo American (LON:AAL) is preparing a $630 million bid for a 58.9% stake in the Minas de Revuboe coal project, which is estimated to contain 1.4 billion tonnes of coal:
Press reports in Australia say Anglo is “close” to finalising the $630m deal to buy the stake in Revuboè from the privately owned Talbot Group. The other partners in Revuboè are Nippon Steel, with a 33% stake, and South Korean steel group Posco.
Rio Tinto, which earlier this year bought Australia’s Riversdale, and coal/iron ore miner Vale, already have positions in Mozambique. Minas de Revuboe says on its website that the open-pit mine would produce up to 17 million tonnes per year of thermal and coking coal. Production would start in 2013.
Comments
Zenith mining machine
coal is important resource all over the world. China is rich in coal. In Africa, many different minerals are mined. Many forigners invest in Africa. Although it do help for economic but for invironment, it is harmful.