Indian company Jindal Poly Films granted coal concession in Mozambique

10 January 2011

Mumbai, India, 10 Jan – Indian company Jindal Poly Films, of the B C Jindal group, said Saturday that its subsidiary Jindal Resources (Mozambique) had been granted the concession on a block for coal prospecting and exploration.

“The company has obtained Block-2 in the district of Moatize, in Tete province,” said Jindal Poly Films in a statement filed with the Mumbai stock exchange.

The block has an area of 1,480 hectares, where it is estimated that there are 150 million tons of coal reserves.

Jindal Poly Films also said that another of its subsidiaries, Jindal Metal and Mining, had set up a partnership with a Mozambican company to prospect, explore and mine coal, in a block that is estimated to contain 300 million tons of thermal coal. (macauhub)