Coal Stacker Collapses At Mozambique Port
A coal stacker, which is a large bulk handler, collapsed in the Mozambique port of Nacala. The stacker buckled according to a port spokesperson.
It was at the coal terminal currently owned by Brazilian miner Vale, who wants to begin coal exports in the third quarter of 2015. Vale is global operator of mining, energy, steelmaking and logistics. Authorities are investigating and they should issue a report in the few couple of weeks. No one was injured in the accident.
Vale is reliant on the port and connecting railway, which are known as the Nacala Corridor, in order to move production at Moatize mine in northwest Mozambique. Vale anticiaptes it reach production 22 million tons by 2017. It current output is about 7 million tons.
Vale's Moatize project has had difficulties in terms of expanding the Nacala railway and port slowdowns due increased production at the mine. The rail line runs for 900 km (560 miles) through land-locked Malawi to the port of Nacala on the Indian Ocean.
Last December, it sold a stake in the project to Japanese trader Mitsui & Co Ltd in order to share the cost of getting the mine up and running. Mitsui bought a stake just under 15 percent in the mine and 35 percent in the rail and port system.