Cokal Limited has signed a co-operation agreement with Empresa Moçambicana de Exploração Mineira (EMEM – Mozambique Mining Exploration Company) to explore tenements in Mozambique for coal mining potential and jointly develop mines and associated facilities.

EMEM is a state-owned corporation formed by the Mozambique government to participate in mining projects, undertake exploration and mining development as well as promote value addition to mineral products. The formation of EMEM followed recognition by the Mozambique Government that coal was pivotal to the country’s future economic development.

Mozambique is poised to become Africa’s major coking coal producer and a major player in the world coking coal market, following the discovery of significant resources and reserves of hard coking coal preceded by major exploration programs by international mining companies including Vale, Riversdale and Revubue as well as other programs.

Cokal executive chairman Peter Lynch says, “This agreement reflects the confidence that Cokal holds in the Mozambique region for high quality coals and a stable and improving operating environment.”

Its’ CEO and managing director Jim Middleton says, “Cokal is looking forward to a partnership in the Mozambique mining industry, where foreign investors are welcome, and facilitate building financial and technical capabilities within the country. The agreement recognizes that combining Cokal’s coal exploration and mining expertise with EMEM’s geological knowledge, commercial acumen and local expertise, will be a powerful partnership.

“Cokal’s partnership now has a team in Mozambique capable of bringing any potential tenements through exploration and into production in a timely manner, while developing local Mozambique expertise and employment in a sustainable way. EMEM and Cokal have consistent corporate goals and a compatible set of business values and ethics.”

Executive director Pat Hanna says, “My experience in Mozambique gives us confidence in identifying and developing coking coal resources in this large, new, emerging coking coal basin. The partnership we have entered into will potentially allow us to develop coal opportunities for the benefit of Mozambique, increase the use of local educated professionals, see resources and infrastructure developed to push Mozambique to the forefront of African coal exports, and provide expertise to assist with the sustainability of these projects.

Cokal has also signed a joint venture to explore for coal in Tanzania with Tanzoz Resources, which holds interests in Tanzania for uranium, gold and coal.

www.cokal.com.au

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