GABORONE, Botswana--(BUSINESS WIRE)--The Board of Directors of Shumba Coal (BSE:SHU) (SEM:SHU) Limited (the “Company” and/or “Shumba Coal”) is pleased to announce to its shareholders and the public in general that is has been awarded the rights to a new prospecting licence for coal exploration rights in Botswana resulting from the second of its kind open tender, in which both local and international parties participated. The new Prospecting Licence No. 308/2014 has been issued by the Ministry of Minerals, Energy and Water Resources of Botswana (the “Ministry") for coal exploration rights over an initial period of 3 years. The estimated expenditure to be incurred by the Company during this period is USD330,000.
The presence of coal in the area was investigated by Majors in the 1970s. During historical exploration programmes, large in-situ reserves of carbonaceous material were identified in the area. An historical resource exists in the licence area and initial efforts by the Company in the first 3 years shall focus on confirming the presence of such resources.
For further information please visit: http://www.bse.co.bw/docs/Results%20of%20SM%208%20Sept%202014.pdf
Shumba Coal is a Botswana Stock Exchange listed Junior Coal Miner with a focus of becoming a leading producer of sustainable low cost thermal coal. Our flagship Sechaba Project has approximately 1 billion tonnes of JORC compliant coal resources and is well positioned in terms of power, water, road and rail Infrastructure. Sechaba has the potential for multiple 300MW power station opportunities for domestic and export power markets; and could also export large tonnages via existing rail.