14 March 2017 SADC / Mozambique

Vale Mozambique Reports A $US105 Million Loss At The Close Of 2016

Vale Mozambique, a subsidiary of Brazilian mining multi-national Vale, reported an operating loss of $US105 million in the final quarter of 2016. While slightly down from losses recorded during the equivalent period in 2015 ($US508 million), the company continues to struggle to turn a profit on their investment in Mozambique’s Moatize coal fields. According to Vale Mozambique’s 2016 Q4 report, the improvement in losses recorded are mainly due to austerity measures implemented at the compan

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