Indian company mulls major developments at its Mozambique mine

Indian State-owned company International Coal Ventures Limited (ICVL) is to invest some $1.9-billion in Mozambique. This has been revealed by ICVL Mozambique Director General Nirmal Chandra Jha to The Indian Express newspaper. The company now owns 65% of the Benga coal operation, and 100% of the Zambeze and Tete East coal projects, in the African country’s Tete province, having bought them from Rio Tinto (reportedly for $50-million) last year.