Brazilian mining company Vale has launched a ┬ú908.5 million coal mining project in Mozambique. ┬á Vale is the worldÔÇÖs second-largest mining company and the largest producer of iron ore.┬á Mozambique has attracted increasing numbers of foreign investors recently because of soaring mineral prices, and it is speculated that the country will now become the continentÔÇÖs second-largest coal producer behind South Africa, which holds most of AfricaÔÇÖs reserves.