Cokal, EMEM to form Joint Venture

17 July 2011 (Last Updated July 17th, 2011 18:30)

Australian coal group Cokal has signed a cooperation agreement with Empresa Mocambicana de Exploracao Mineira (EMEM), a Mozambique mining exploration company, to form a joint venture to explore and develop coal mines and associated facilities in Mozambique. EMEM, which is owned by the M

Australian coal group Cokal has signed a cooperation agreement with Empresa Mocambicana de Exploracao Mineira (EMEM), a Mozambique mining exploration company, to form a joint venture to explore and develop coal mines and associated facilities in Mozambique.

EMEM, which is owned by the Mozambique Government, will own a 20% interest in the joint venture and Cokal will hold 80%.

Cokal executive director Pat Hanna said the partnership will allow Cokal to develop coal opportunities for the benefit of Mozambique, develop resources and infrastructure to push Mozambique to the forefront of African coal exports, and provide expertise to assist with the sustainability of these projects.

Cokal also signed a joint venture with Tanzania-based Tanzoz Resources to explore coal opportunities in Tanzania.