Major foreign investors have played a significant role in the growth of the Tanzanian mining industry which is expected to double in value from US$64 million in 2010 to US$1.28 billion in 2015.
Exports of natural resources such as natural gas and coal from Mozambique are still being held back by an ongoing and worsening lack of supporting logistics, such as port, rail and road facilities.
Mining house and trade union top officials started arriving in the city this morning for the crisis meeting with deputy president Kgalema Motlanthe in a bid to resolve the problems facing the mining sector.
Coal India Mozambique, a subsidiary of Indian state company Coal India Limited, plans to launch the second phase of coal prospecting in Mozambique in which it plans to invest US$60 million, following the good results of its first phase exploration programme.
Chandler Coal ‒ a wholly-owned subsidiary and the trading arm of JSE-listed Wescoal ‒ has made an offer to acquire an unnamed coal trading business from a third party for R79 million.