Patience Muchemwa
London-listed natural resources development company, Contango Holdings PLC has announced that the company has been granted the approval for the exportation of coal from Muchesu Coal Project by the Minerals Marketing Corporation of Zimbabwe.
In a statement, the company announced that it has also made its first sales to TransOre International FZE as a result.
“We are pleased to advise that final approvals for the export of coal from the Muchesu Project have now been granted by the Minerals Marketing Corporation of Zimbabwe.
“The company reports that it has now made its inaugural sale to TransOre International FZE (“TransOre”), pursuant to its existing off-take arrangement.
“TransOre has already collected initial coking coal from the Muchesu Mine site and additional trucks will shortly be mobilised to Muchesu by TransOre, which interns to utilise its existing coal export capacity at the ports of Maputo and Beira to export the product to its international clients,” read the statement.
The Muchesu Coal Project previously known as the Lubu Coal Project was officially commissioned by President Emmerson Mnangagwa on July 31, 2023.
Jointly owned by Contango Holdings (70%) and Zimbabwean stakeholders, the Muchesu mine project covers 19 236 ha of the highly prospective Karroo Mid Zambezi coal basin, located in the Hwange mining district in north-western Zimbabwe.
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