Coal concession-holder in Mozambique opens office in Maputo

16 July 2010

Maputo, Mozambique, 16 July – The Eurasian Natural Resources Corporation PLC (ENRC) of Kazakhstan, which has 12 licences in the Zambezi coal basin, has opened an office in Maputo, Mozambican newspaper Notícias reported, citing a statement published in the Mozambican capital.

The paper said that the ENRC was currently working on developing two projects, one of which, called Estima, is expected to have an economic feasibility study concluded in the next 18 months following the conclusion of a pre-feasibility study in 2009.

The second project is called Exploração na Margem Norte, located in Zumbo district, Tete province, and drilling operations began this year, conclusion of which is expected in the fourth quarter.

The ERNC is listed on the London and Kazakh stock exchanges, and the Kazakh government has an 11.65 percent stake in the company. (macauhub)