A CONSORTIUM headed by Brazil's Companhia Vale do Rio Doce (CVRD) has been chosen by the World Bank's International Finance Corporation to exploit the Moatize Coal Deposit in Tete Province, Mozambique. It had bid US$122.8 million to explore and mine 21 million tonnes annually. Mozambique's mineral resources and energy minister Castigo Langa welcomed that local nationals could buy up to 10% of consortium shares.

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