Coal news and updates

Indian group International Coal Ventures Pvt Ltd (IVCL) plans to nearly triple production during the next three years at its open-cast coal mine in Benga in Mozambique’s Tete province, APA learnt here Tuesday.The local media quotes an IVCL official as saying that coal production will be increased to 13 million tonnes a year within the next three years, up from the five million tonnes achieved by owners Rio Tinto.

 

IVCL recently purchased the Mozambican coal assets of the Anglo-Australian company for US$50 million.

 

The official said IVCL would be able to bring Mozambican coal to India profitably, using a “secret recipe”.

 

“I will not be able to tell you what the recipe is but we will have an operational control that will provide us coal security in a cost effective way,” the official said.

 

The company said it would use existing infrastructure in Mozambique to optimise its operations and would participate in the development of projects such as new railways and ports if needed.

 

 

Source: APA