It’s not easy to transport minerals to markets in African countries due to the poor condition of infrastructure. This is what Brazilian mining company, Vale SA has been experiencing in Mozambique with moving its coal from its Moatize mine to markets globally. And the company has had to grab a bull by the horns to secure finance for the expansion of the Nacala Logistics corridor in East Africa at the tune of $300-million from African Development Bank (afDB), Reuters News Agency reports.
The Nacala corridor is critical to regional trade, linking areas in Zambia, Malawi and Mozambique with the Port of Nacala on Mozambique’s Indian Ocean Coast. Reuters also reveals that Japanese company Mitsui has a 15% stake in the infrastructure project.
African Mining Brief will tracking developments in the project and provide updates.