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Hilbroy Advisory: Vale opens new coal mine in Mozambique
Hilbroy Advisory: Vale opens new coal mine in Mozambique
The company last month signed a deal with Malawi to build some 100 kilometers of the line across the country's southern end, giving it a straight shot to the sea.
Montreal,
Quebec,
Canada
(prbd.net)
09/05/2011
Montreal, Quebec, May 6th, 2011– Hilbroy Advisory Inc. (DeutcheBörse: 2H0) Hilbroy Advisory Reports: Brazilian mining giant Vale opens a new $1.7-billion coal mine in Mozambique, tapping the southern African country's thermal and coking coal reserves of around 23 billion tonnes.
Mozambican President Armando Guebuza and outgoing Vale chief Roger Agnelli were to attend the opening ceremony in Moatize outside the city of Tate in northwest Mozambique on Sunday, to mark the largest single investment to date in one of the world's poorest countries.
Vale plans to export one million tonnes of coal from the $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.
Mozambique's coal reserves have lain relatively untapped since independence from Portugal in 1975. A civil war from 1977 to 1992 crippled the country's economy and decimated its infrastructure.
In 2004 Vale became the first international mining giant to be granted a concession in Mozambique. At the peak of preparations, the company counted 6,000 workers, mostly Mozambican.
Australian mining company Riversdale, in a partnership with India's Tata steel, will also start operations later this year at a nearby coal mine, hoping to produce 6 million tonnes a year by 2016.
Mozambique signed a third large coal contract with India's Jindal Steel and Power in February. The company hopes to produce 11 million tonnes a year when the mine opens in 2012.
Reconstruction of the 600-kilometre Sena railway line that connects coal-rich Moatize district to the Indian Ocean port city of Beira is still not finished, forcing authorities to reconsider their contract with Indian consortium Ricon.
Though work is also unfinished on the coal terminal at the port, officials have sought to reassure that the mining giants will be able to get their product to market.
Vale is investing in another railway line from Tete to the northern port of Nacala, the country’s only deep-water port. The company last month signed a deal with Malawi to build some 100 kilometers of the line across the country's southern end, giving it a straight shot to the sea.
This is expected to be his last trip to Moatize before handing the reins to former company executive Murilo Ferreira on May 22.
About Hilbroy Advisory Inc.
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential.
Our specialists will customize a service package that includes reviewing, identifying and recommending a series of specific action and tasks that help their clients’ management decisions when seeking
• Go Public strategy,
• Debt and or equity financing
• Identify prospective investors
• Hire investor relations firm
• Cross listing decisions
• Planning road-shows and promotional campaigns.
Hilbroy Advisory has established numerous international relationships over the years with Broker Dealers, Hedge Funds, Institutional Investors, High net worth Investors as well as with investor relations firms and consultants. These relationships are made available to all Hilbroy clients and our team will manage the relationships from introduction to post financing activities.
Contact:
Jean François Amyot
HilbroyAdvisory, Inc.
1400 rue Begin
Montreal, QC H4R 1X1
info@hilbroyadvisory.com
www.hilbroyadvisory.com
Tel: 514-334-3131
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates", "believes", "could", "expects", "intends", "may", "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
About
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential.
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