The Government of Mozambique has recently approved to conclude a concession agreement for the construction and enhancement of railways for coal transportation as well as for the construction of a new coal terminal between Caminhos de Ferro Macambique (CFM) and the joint venture (JV) of Vale S.A., Brazil. As a result, the concession agreement is anticipated to be concluded between the Government of Mozambique and CFM/Vale JV this October.c
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