https://newsletter.en.creamermedia.com
Africa|Coal|Industrial|PROJECT
Africa|Coal|Industrial|PROJECT
africa|coal|industrial|project

Contango receives payment for Muchesu bulk sample

Machinery seen at the Muchesu project

Machinery seen at the Muchesu project

20th December 2023

By: Donna Slater

Features Deputy Editor and Chief Photographer

     

Font size: - +

LSE-listed natural resource development company Contango Holdings has received about $116 000 from a large multinational company (MNC) as payment for the previously reported 1 000 t bulk sample of washed coking coal from its Zimbabwe-based Muchesu coal mine.

Over half of the bulk sample has been mined, screened, washed and is ready for collection, with the balance due later in December.

Contango has a 70% interest in the Muchesu project.

The MNC, on December 19, started collection of this coal from mine gate ahead of delivery to its facilities in South Africa for final tests in their own coke batteries.

Given historic test work undertaken by the MNC, as well as Contango's ongoing verification of the coal quality and characteristics of the bulk sample, Contango believes there is a high probability of entering into a long-term offtake with this MNC following the successful completion of their tests in January 2024.

As previously reported, the MNC has expressed a need for a minimum of about 7 000 t a month.

However, current discussions are with respect to a larger long-term contract, which the board is inclined to progress with given the complications around the current offtake partner, TransOre, which has not yet provided further orders or payment for washed coking coal as envisaged under the July 2023 offtake agreement.

In addition, Contango remains in discussions with other potential off take partners of both coking and industrial coal as per the update of October 26, 2023, which would be envisaged as complementary to any contract with the MNC.

Edited by Creamer Media Reporter

Comments

Showroom

Weir
Weir

Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...

VISIT SHOWROOM 
Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (29/11/2024)
29th November 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.425 0.522s - 278pq - 2rq
Subscribe Now