7 March 2005
Maputo — Mozambican President Armando Guebuza on Sunday commended the Brazilian company Vale do Rio Doce (CVRD) for the pace of its research and viability studies, preparing to reactivate coal mining in the Moatize mines, in the western province of Tete.
"They have reiterated that they want to work, not only to exploit the coal, but also to contribute to the solution of social problems in the region", Guebuza told reporters after a meeting with a delegation from the company.
For his part, the company's chairperson, Roger Agnelli, who led the delegation, said that CVRD is working to speed up all stages of the project. "We want to work together with the government and the Mozambican people", he said.
Agnelli described his meeting with Guebuza as "very productive". He said that he briefed the Mozambican President on the development of the research to determine the existing quantities of coal.
"The entire life of the project depends on these studies, that should be completed by the middle of next year, when we will know the size of the project and determine the amounts to be invested", said Agnelli.
He could not give any definitive figures, but he estimated that investment in this project will be between 500 million and one billion US dollars.
He added that the studies also include the assessment of the railways, the port and all the necessary means to render the project feasible. But he stressed that most important of all is cooperation with the communities in the Moatize area.
CVRD won the international tender to reactivate the Moatize coal mines, and offered 122.8 million US dollars for the contract.
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