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SAIL-RINL-NMDC to form SPV to buy Rio Tinto Mozambique assets

Last Updated: Sunday, August 17, 2014, 21:26

Consortium members of International Coal Ventures Ltd - SAIL, RINL and NMDC - will form a special purpose vehicle to buy Rio Tinto's Mozambique coal mines as other partners NTPC and Coal India are not keen on taking part in ICVL's maiden deal announced last month.

Indian cos invested $9.6 bn in 5 countries in last 3 fiscals

Last Updated: Friday, August 01, 2014, 20:39

British Virgin Islands, Mozambique, the Netherlands, Mauritius and Singapore were the top five nations where Indian firms made investment of USD 9.6 billion in the last three years.

Rio Tinto sells Mozambique coal assets

Last Updated: Wednesday, July 30, 2014, 17:25

A consortium of Indian state-run companies -- International Coal Ventures -- will take over the mines, and the deal will be finalised in the third quarter of this year.

ICVL likely to submit $200 mn bid for Rio Tinto Mozambique

Last Updated: Tuesday, July 01, 2014, 20:24

The mines have estimated reserves of around 200 million tonnes of both coking and thermal coal.

Mozambique presidential candidate campaigns from bush hide-out

Last Updated: Tuesday, June 24, 2014, 16:58

Mozambican opposition leader Afonso Dhlakama will launch his presidential election campaign by telephone from his remote mountain hideout, his spokesman said Tuesday.

ICVL team in Mozambique to tap coal assets for acquisition

Last Updated: Monday, June 23, 2014, 18:16

ICVL had earlier evinced interest to acquire Riversdale Mining's coal mines in Mozambique owned by Rio Tinto.

CIL to form consultants' panel for overseas mines acquisition

Last Updated: Tuesday, June 03, 2014, 20:33

Coal India plans to form a panel of consultants which would help the PSU in acquiring, developing and operating coal mines overseas.

Mozambique mulls sovereign wealth fund

Last Updated: Friday, May 30, 2014, 06:29

Mineral-rich Mozambique is considering the establishment of a sovereign wealth fund, the country`s finance minister said Thursday.

5 miners killed, dozens trapped in illegal Mozambique gold mine

Last Updated: Thursday, May 15, 2014, 21:59

Mozambique police said Thursday at least a dozen people were trapped underground after an illegal mine collapsed in the northern district of Memba, killing five miners.

BPCL, ONGC shares gain on Mozambique asset hopes

Last Updated: Wednesday, May 07, 2014, 11:06

Anadarko revised the total estimated recoverable resources from its Offshore Area 1 (Rovuma basin) to a range of 50 to 70-plus trillion cubic feet of natural gas from 45-70 plus tcf earlier.

ONGC's Mozambique gas field holds larger reserves at 50-70 tcf

Last Updated: Tuesday, May 06, 2014, 18:58

Oil and Natural Gas Corp's (ONGC) giant gas field in Mozambique holds 50 to 70 trillion cubic feet (Tcf) of recoverable reserves, 43 percent more than the minimum estimated resources when it invested USD 4.12 billion.

CIL invites bids for 3rd phase of drilling mines in Mozambique

Last Updated: Tuesday, April 29, 2014, 16:08

Taking forward its plans to develop mines in Mozambique, state-owned Coal India Ltd (CIL) has invited bids for the third phase of drilling in the African nation.