Anglo American may have passed on this one, but Nippon are up for it. Japan’s largest steel company, Nippon Steel and Suminato Metal Corp, was given the go-ahead on Thursday to develop the Revuboè coal project in Mozambique’s Tete province. It now hopes to begin production by 2016, nestled in among other major extractors in one of the world’s most important new mining regions.
The announcement comes little over a week after the London-listed mining giant, Anglo American, said it had dropped plans to acquire a $555m majority stake in the Revuboè venture, which is situated adjacent to Vale’s Moatize mine and Rio Tinto’s Zambezi and Benga mines. Read more