Mozambique coal company Ncondezi plans to invest up to USD 400 million in the Zambezi coal basin and is expected to start producing coal by 2015.
Mr Graham Mascall CEO of Ncondezi said that "We will invest between USD 380 and USD 400 million by (2019).”
Ncondezi is planning to produce coal in the Zambezi coal basin of Mozambique in the same area where mines are being developed by Brazilian mining giant Vale and Riversdale Mining.
It also hopes to export 10 million tonnes a year of thermal coal used to fuel power stations to the Indian market by 2015.
Mr Mascall said that "We start by producing 2.5 million tones on coal by the first quarter of 2015 then expand our output adding that the group may export coal to India, Brazil and China.”
Mr Graham Mascall CEO of Ncondezi said that "We will invest between USD 380 and USD 400 million by (2019).”
Ncondezi is planning to produce coal in the Zambezi coal basin of Mozambique in the same area where mines are being developed by Brazilian mining giant Vale and Riversdale Mining.
It also hopes to export 10 million tonnes a year of thermal coal used to fuel power stations to the Indian market by 2015.
Mr Mascall said that "We start by producing 2.5 million tones on coal by the first quarter of 2015 then expand our output adding that the group may export coal to India, Brazil and China.”
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