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Essar Plans Iron Ore Terminal in Mozambique for Exports From Zimbabwe
Jun. 14, 2011 08:13AM PST
Base Metals Investing
Bloomberg reports that Essar Global will build a terminal in Mozambique to handle up to 20 million metric tons of iron ore exports a year from Zimbabwe.
Bloomberg reports that Essar Global will build a terminal in Mozambique to handle up to 20 million metric tons of iron ore exports a year from Zimbabwe.
The market news is quoted as saying,
Essar’s plans to export iron ore slurry may conflict with government policy in Zimbabwe, where authorities are encouraging miners to add value to minerals before exporting them, Securities Africa said. Essar did not say how much it would spend building the terminal and pipeline, and Coovadia said that “some of the plans we have are firm, but others are non-firm,” according to Securities Africa.