12 °c
London
Sunday, August 14, 2022
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Africa

Vale Mozambique lowers coal production forecast to 10 million tonnes

FurtherAfrica by FurtherAfrica
August 15, 2019
in Africa, Coal, Commodities, Mining, Mozambique
Reading Time: 1 min read
952 10
0
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

Climate and operational factors have led to Vale Moçambique’s coal production forecast for 2019 being lowered from 14 million to 10 million tonnes, the company’s chairman said on Wednesday in Maputo.

Márcio Godoy, chairman of the subsidiary of Brazilian group Vale, spoke at a press conference held in the Mozambican capital to disclose the financial and production results of the second quarter of 2019, according to Mozambican news agency AIM.

Chief Financial Officer Marcelo Tertuliano said the fall in coal prices pushed the company’s second-quarter net income down to minus US$145 million, an increase of 20.83% from a similarly negative US$120 million in the first quarter.

“In financial terms the result was influenced by falling prices,” said Tertuliano, who said that in operational terms the management’s goal is to reach production of one million tonnes per month, “which puts the company at a sustainable, healthy pace. from an economic and financial point of view.”

Second-quarter revenue reached US$271 million, down 5.24% or US$15 million from US$286 million in the first quarter, with production at 2.4 million tonnes, about a third less than the 3.5 million tonnes forecast.

Source: Macauhub

Related

Tags: CoalFeatureMaputoMarcelo TertulianoMárcio GodoyMozambiqueproduction forecastValeмозамбикموزمبيقモザンビーク莫桑比克
ScanSendShare385Tweet241Share67Pin87Send
FurtherAfrica

FurtherAfrica

Founded in 2015 FurtherAfrica is an online platform centralising news and content focusing on the development and growth story of the African continent.

Related Posts

South Africa's trade surplus
Telecom

South Africa gets another unsolicited bid for a Telkom deal

by FurtherAfrica
August 14, 2022
Development

Ethiopia completes third phase of filling giant Nile dam

by FurtherAfrica
August 14, 2022
Discover Falcon Golf Club, secret jewel on Rwanda lake Muhazi shores
Travel

MSGBC Oil, Gas & Power launches Golf Tournament

by Energy Capital & Power
August 14, 2022
Travel

Affordable hotels in Maasai Mara for international budget travelers

by See Africa Today
August 14, 2022
Travel

10 Festivals worth catching a flight for

by See Africa Today
August 14, 2022
Angola Oil & Gas 2022
 
AFSIC 2022
 
Great Limpopo Transfrontier Park
 
MozParks

Translate this page

Read the Latest

South Africa's trade surplus
Telecom

South Africa gets another unsolicited bid for a Telkom deal

by FurtherAfrica
August 14, 2022
0

The South African government received an unsolicited bid for its 40.5% stake in Telkom SA SOC Ltd., following an announcement...

Read more

Ethiopia completes third phase of filling giant Nile dam

August 14, 2022
Discover Falcon Golf Club, secret jewel on Rwanda lake Muhazi shores

MSGBC Oil, Gas & Power launches Golf Tournament

August 14, 2022

Affordable hotels in Maasai Mara for international budget travelers

August 14, 2022

10 Festivals worth catching a flight for

August 14, 2022

FurtherAfrica Partners Network

The Exchange Club of Mozambique Taarifa Rwanda
TechGist Africa Africa Oil & Power Farmers Review Africa
Tanzania Invest Zambia Invest See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
Digilogic Africa Web3Africa

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 99,389 other subscribers.

FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?