$1.7bn coal mining investment for Moz

first_img9 May 2011Brazilian mining giant Vale has opened a new US$1.7-billion (R11.39-billion) coal mine in Mozambique, tapping the southern African country’s thermal and coking coal reserves of around 23-billion tonnes.Mozambican President Armando Guebuza and outgoing Vale chief executive Roger Agnelli opened the mine together on Sunday by pressing a button that triggered an underground explosion, enabling the company to bring to the surface its first coal from the mine in Moatize, outside the city of Tete in northwest Mozambique.As a giant smoke cloud mushroomed over the hundreds of VIP guests, a large truck brought a symbolic load to a conveyer belt and onward to a coal washing plant.“A dream of decades today becomes a reality,” said Guebuza.Largest single investmentThe $1.7-billion project is the largest single investment to date in Mozambique, one of the world’s poorest countries.Vale plans to start production in July and export one-million tonnes of coal this year, ramping up output to 11-million tonnes in a few years – and, local officials hope, boosting Mozambique’s current economic growth of 6.5%.Agnelli said the project would add as much as $3-billion to the economy.“Africa means opportunities,” he told journalists.Mozambique’s coal reserves have gone largely untapped since independence from Portugal in 1975. A civil war from 1977 to 1992 crippled the country’s economy and decimated its infrastructure.Two decades later, Mozambique is welcoming foreign investors to its mineral wealth and licking its lips at the prospect of a boom.In 2004, Vale became the first international mining giant to be granted a concession in Mozambique. At the peak of preparations, the company counted 7 500 workers, mostly Mozambican.Australian mining company Riversdale, in a partnership with Indian companies Tata steel and Jindal Steel and Power, are also developing major coal mines in Mozambique.Infrastructure concerns remainBut concerns remain about getting the product to market, as infrastructure renovation lags behind: “We are running at this stage to get the infrastructure ready for export,” said Agnelli, adding that exports would start in July, though railway authorities told AFP they would only be ready in August.Mozambique is scrambling to finish a much-delayed rebuilding of the 600-kilometre Sena railway line that connects coal-rich Moatize to the Indian Ocean port city of Beira. The coal terminal at the port is also unfinished.Even when ready, the Sena line will only be able to handle six-million tonnes of coal a year – four-million allocated to Vale and two-million to Riversdale – caps that are less than half the companies’ respective export goals.Vale is investing in another railway line from Tete to the northern port of Nacala, the coutry’s only deep-water port and a gateway to Indian Ocean ports for Mozambique’s land-locked southern African neighbours.The company is also funding the reconstruction of an international airbase in Nacala, Agnelli said.Sapalast_img read more

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Donate to Charity with Each Credit Card Transaction with SwipeGood

first_imgThe charitable giving service SwipeGood is launching a new feature today called “SmartGiving” that will enable its users to donate to different charities based on their monthly spending patterns.SwipeGood’s goal, according to co-founder Steli Efti, is to build a “simple, elegant solution to giving.” By tying donations in to your regular spending habits, SwipeGood has certainly made it simple. The company rounds up to the nearest dollar on every credit card transaction you make, and then donates that lump sum to a charitable organization. That works out to a roughly $20 donation per person who’s joined the platform so far – spare change adds up.Since SwipeGood launched late last year, Efti says they’ve attracted different sorts of users. Some have a clear idea of which cause they’d like their donations to go toward. Others like the idea of giving back, but aren’t particularly passionate about one cause or another. These users often bail from the system, overwhelmed by the 300 plus charities to choose from and unsure about where best to target their donations.A new feature launching today with SwipeGood addresses that. “SmartGiving” allocates the donations based on users’ actual spending habits. Rather than selecting one charity, SmartGiving means that donations are directed to multiple charities. Based on how your spending is allocated – groceries, housing, travel, for example – SmartGiving will automatically direct funds to food-, housing-, and eco-related charities. audrey watters Top Reasons to Go With Managed WordPress Hosting A Web Developer’s New Best Friend is the AI Wai… Related Posts The idea of simplifying charitable donations is a nice one, and on one hand I think people might be willing to turn over their “spare change” for this sort of endeavor. On the other, I’m not sure if people will balk at having their spending data analyzed for this sort of thing. Users’ financial data is kept private here – this isn’t quite a Blippy for charitable giving. Using the category data from card transactions, SwipeGood breaks down spending into 5 large categories – home, food, healthcare, education, and nature. Watching that allocation and how it plays out as a charitable contribution might prove interesting data for some folks to consider their lifestyle and purchase habits. Tags:#news#web Why Tech Companies Need Simpler Terms of Servic… 8 Best WordPress Hosting Solutions on the Marketlast_img read more

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India dazzles the world as Commonwealth Games kick off

first_imgFireworks light up the Jawaharlal Nehry Stadium at the CWG opening ceremony on Sunday evening.Putting behind months of controversies, New Delhi put together a spectacular opening ceremony for the 19th Commonwealth Games, which received the approval of all watching.The show of colour, light, music and dance at the Jawaharlal Nehru Stadium left the 65,000-plus present there screaming in delight as the 12-day sporting extravaganza kicked off with participating teams from 71 members of the Commonwealth.Prince Charles, filling in for Queen Elizabeth II, declared the Games open after which President Pratibha Patil, making a short speech, said, “Let the Games begin!”AR Rahman capped the evening with his CWG anthem, Jeeyo Utho Badho, followed by Jai Ho, which the crowd gladly sung along.Among those attending the grand opening were Prime Minister Manmohan Singh, Congress president Sonia Gandhi and general secretary Rahul Gandhi, and Patil’s husband Devi Singh Shekhawat.Manmohan said: “Welcome to India, welcome to these Games. It is a proud moment for the country. We invite all our guests to enjoy our hospitality.”CWG chief Michael Fennell, who was critical of the Games preparations, acknowledged the big, through belated, turnaround. “Congratulations to the Organising Committee. Let us join hands in celebrating the glorious opening ceremony,” he said.Abhinav Bindra leads the Indian contingent at the Commonwealth Games opening ceremony at the Jawaharlal Nehru Stadium in New Delhi.The Delhi Games organising committee chief Suresh Kalmadi was initially welcomed by the large crowd here, but later booed by it. advertisement”India is ready to host the games,” Kalmadi said, reading out from a prepared speech, sounding confident and not a man whose career in sports administration nearly came to an end because of the problems leading up to this day.Kalmadi also mentioned AB Vajpayee in his speech as he brought the Games to India. At the parade of the participating contingents, the Pakistan team received loud cheers. But the roof was brought down the moment ace marksman and Olympic hero Abhinav Bindra led the Indian contingent on to the park.Patil, Manmohan and Sonia all stood up to applaud the Indian team, which aims to finish with a best ever CWG rank of No. 2.The day’s festivities were marred a little by official broadcaster Doordarshan’s deferred live coverage of the event.Rahman’s act was broadcast only after 10.30 pm, nearly an hour after the opening ceremony had already concluded.last_img read more

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Mercedes Benz to increase prices of its models in India due to rising input costs

first_imgMercedes Benz price increaseMercedes Benz is incidentally the first luxury maker to have entered India more than 15 years ago. With the launch of the new A-Class and B-Class Sports Tourer vehicles, it has been able to regain lost ground from competitors BMW and Audi. Owing to rising input costs and high exchange rate, the company has recently announced a small price hike of 2.5% across its model range from September 1, 2014Speaking more on the situation, Mr Eberhard Kern, Managing Director and CEO, Mercedes-Benz India, said, “Mercedes-Benz continues to offer ‘top of the line’ products for its customers and focuses on adding more value to their overall ownership experience. We have decided to upwardly revise the prices of some of our models given the rising input costs and continued high exchange rate. Mercedes Benz models are highly enriched in terms of features and they command high customer preference in the market. Our aim remains to grow sustainably in the market in the long-term and keep creating new benchmark in modern luxury for our customers.”Quality, world-class safety standards and refined performance are always standard with the Mercedes brand and the company will continue to maintain its high standards even in times of inflation. To adhere to the interests of the buyers, Mercedes Benz has come out with a host of financial services. Elaborating on the same, Mr. Kern said, “Despite the price hike, the attractive financial solutions from Mercedes-Benz Financial Services like ‘Flexinomics’, ‘STAR Agility, STAR Lease’ and ‘STAR Supersonic’ loan approvals etc. are all tailor made for our customers. These solutions will provide benchmark value proposition, enabling a hassle free purchase, while our service programmes like Star Care, Star Ease and Road Side Assistance, will enhance the customer’s overall ownership experience.”advertisementlast_img read more

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New guidelines on treatment of juvenile convicts, aftercare

first_imgNew Delhi, May 15 (PTI) The government has come up with a handbook detailing ways to deal with children in conflict with the law, emphasising on launching a database and a tracking system for their effective rehabilitation post incarceration, after procedural flaws were exposed in the aftermath of the Nirbhaya case.The standard operating procedure (SOP), prepared by the women and child development (WCD) ministry based on the Juvenile Justice (Care and Protection) Act, 2015, aims at eliminating maltreatment of such children while protecting them from violence, abuse and exploitation.The objective of all the stakeholders should be to rehabilitate and reintegrate children in conflict with the law into the mainstream, the SOP states.The ministry has recommended a slew of activities as part of the rehabilitation process which include yoga, physical training, meditation, skill training, computer education, art and craft therapy, training in spoken English, dance and drama and sports.It also enumerates individual care plans to be drafted for each child which is mandated in by the JJ Act.The SOP has laid down a provision for professional course for a child in order to make him/her financially independent and recommended that child care institutions tie up with universities for such courses.It has also advised that there should be a follow-up plan in place for all children in conflict with the law who are in institutional care.”Institutions should conduct regular follow-up programmes for all released children to ensure the child does not get back to a difficult situation. Institution should maintain regular contact with the children and their families.advertisement”Regular follow-up activities help to reduce the rate of recidivism. Institutions should conduct half yearly meets to get a feedback from the juveniles about their current situation and to ascertain the further interventions required for their successful rehabilitation,” the SOP said.Flaws were exposed in the procedural aspects of the JJ Act in the aftermath of the release of the juvenile convict in the Nirbhaya gangrape case, prompting the government to work on a comprehensive plan for such children so that they do not become repeat offenders.The juvenile convict in the gangrape and murder of a 23- year-old physiotherapy intern in Delhi in December 2012 was released in December 2015 and is believed to be working at a roadside eatery in South India.Ministry officials say that there was no follow-up plan devised for his release.The officials also say that while he was taught how to stitch and cook, it was a south India-based non-for-profit organisation which later trained him and presently monitoring him.The ministrys SOP also has a provision for after-care whereby a tracking system is to be created by state governments through which children, once they leave child care institutions, will be tracked for minimum three years to analyse the transition.The government may also set up a database of children leaving child care homes upon turning 18 every year and also create helpline numbers for those who are out of institutional care, where they can contact to seek guidance or counselling, whenever required, and can find solutions for their concerns.The Supreme Court had earlier this month upheld the death sentence for four others convicted of the rape and murder of the woman who later came to be known as “Nirbhaya”, the fearless. PTI ASG SMNlast_img read more

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