Vale has spent US$800 million hiring Mozambican SMEs

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Vale has spent US$800 million hiring Mozambican SMEs

11:58 CAT | 25 May 2018

Photo Courtesy: Ariel Inroga Facebook

Mining company Vale, which started operations in Mozambique in 2012, has so far spent US$800 million hiring small and medium-sized companies to provide various services, president of the Confederation of Economic Associations (CTA) Agostinho Vuma noted during a visit to the Brazilian-owned venture.

After visiting various sections of the Vale facility accompanied by staff from various CTA departments, Vuma expressed exclusively to “O País Económico” his satisfaction with the amount the company was investing in small and medium-sized national companies in its production process.

“As the CTA, we are satisfied with the business connections component. Vale is doing a good job, even before the approval of the Local Content Law. We now need to improve our relationships, which is essentially to account for these Mozambican small and medium-sized enterprises,” Vuma said.

Vuma was also pleased to note that Vale was complying scrupulously with environmental legislation, using various techniques to avoid pollution.

Márcio Godoy, the chairman of Vale’s board of directors, said that, even with the global financial crisis, Mozambique had positioned itself at the top of the list of coal producers, thanks to efforts by Vale and its production department.

“For this to happen, we need to have a very well structured production chain, very strong and high productivity. That is why we are committed to combining efforts with local entrepreneurs, with partners, whether based here in Moatize or elsewhere in the country,” Godoy said, adding that 140 projects were to be approved at in coming days for local SMEs to join in supporting production at Vale.

Source: O País