Mumbai, India, 21 Sept – India’s biggest coal company, state-owned Coal India Ltd (CIL) said Friday that the Mozambican government was soon expected to grant it the exploration rights to two coal mines in Tete province.
“All the formalities related to the concession of the exploration license have been concluded,” a company statement said.
The statement said that the mining licenses, for mines with estimated reserves of over 1 billion tonnes, would be granted with a month of two.
The government gave assurances of the concession of the two blocks in an area of 200 square kilometres, last March, but the formalities for the process to be completed have only just concluded.
CIL plans to export 85 percent of the coal mined to India.
The Indian company plans to start mining in Tete within two years and production and export within five years. (macauhub)