OREANDA-NEWS. Vale participated in a seminar in Brasilia to celebrate the 50th anniversary of the African Union. The event was attended by former president Luiz Inacio Lula da Silva, the Minister of Development, Industry and Foreign Trade, Fernando Pimentel, and the Foreign Minister, Antonio Patriota.

Vale’s Executive Director of Capital Project Implementation, Galib Chaim, and Corporate Affairs Director, Rafael Benke, represented the company at the seminar. Benke presented Vale’s economic and social investments in Mozambique and Malawi.

Growing at six to seven per cent per year over the last decade, the countries of Africa have strengthened their institutions and societies. According to Patriota, between 2002 and 2012 commercial trade flows between Brazil and Africa rose from RUSD 5 billion to RUSD 26 billion.

Ending the seminar, Lula spoke about the existence of an African renaissance due to economic growth and democratic progress on the continent.

Vale in Africa

Involving an investment of USD 4.4 billion, the Nacala Corridor will connect our coal operations in Moatize to the Nacala-a-Velha maritime terminal in Mozambique. The project entails restoring 682 km of existing rail tracks in Malawi and Mozambique, as well as building a maritime terminal and 230 km of new tracks.

The Nacala Corridor is considered the key element in infrastructure required to unleash the region’s potential. The project has been made feasible by heavy investment in mining, showing the catalyzing role that the sector can play in economic development. The benefits of this platform will spread beyond Mozambique and Malawi to neighbouring countries. From a wider perspective, growing economies of scale will reduce business costs, provide job opportunities and support small and medium companies supplying goods and services.