Mozambi Coal (MOZ)

Shares / Stock Code

MOZ

Stock Exchange / Sharemarket

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Mozambi Coal Limited (MOZ), formerly RTL Corporation Limited, is a mineral exploration company focusing on coking and thermal coal assets in Mozambique.

Mozambi Coal was listed on the Australian Securities Exchange (ASX) on 19 December 2003.

Mozambi Coal Limited is a coal exploration company listed on the Australian Stock Exchange under the ASX code MOZ. The Company intends to develop as an Africa-focused coal mining company through the exploration and development of its existing exploration licenses in Mozambique and the acquisition of further assets in the region. The Zambeze Coal Basin in Mozambique is considered one of the world’s largest undeveloped coal basins.

The Company has a 70% interest in two mineral exploration licences situated in the Zambeze Coal Basin in Mozambique and in July 2011 announced an agreement to acquire an 80% interest in a third exploration licence, 2738L (“Songo” project), also within the Zambeze Coal Basin.

The combined tenement area held by the Company is approximately 609km2, spanning three tenements, 2738L (“Songo” Project) 3245L (“Tete West” Project) and 3246L (“Muturara” Project).  2738L is located 115km west of the city of Tete and 40km southwest of Jindal licence 1218L where a 700 million tonne coal reserve has been identified. 3245L is located 12km west of the city of Tete and extends over 182km2, and lies immediately southwest of Rio Tinto tenement 946L. 3246L is located 58km southeast of the city of Tete and covers approximately 202km2.  The tenement is located 45km southeast of the Moatize Coal Mining Camp owned by Vale.

The Zambeze Coal Basin is an emerging and highly prospective coal region that is within economic reach of the East African coast. Globally significant resource companies including Rio Tinto (LON:RIO), Vale, Jindal Steel and ENRC have undertaken coal exploration and development projects within the basin.

Songo Project
2738L is located 115km west of the city of Tete and extends over 224km². The tenement lies 40km to the south of the Jindal Steel and Power (Jindal) tenement 1218L where a 700mt coal reserve has been identified.

The Company has the rights to earn an 80% interest in this tenement, with the remainder held with local partner Xiluva Minerals Resources Lda. Geological mapping and ground verification indicates the potential for coal-bearing Lower Karoo sediments in the south east of the license.

The Company recently completed a capital raising that has ensured sufficient funding to undertake the initial exploration programme. The planned drilling programme will involve an estimated 3000m of core drilling. Initially, the programme will centre on five wide-spaced deep drillholes. This will be followed by systematic wide spaced drilling to determine the extent of the coal-bearing stratigraphy. All drill holes will be geophysically logged. The programme will be followed by resource definition drilling in areas of mineralisation.

Tete West Project
3245L is located 12km west of the city of Tete and extends over 182km². The tenement lies immediately to the southwest of the Riversdale Mining Limited tenement 946L where an Indicated and Inferred Coal Resource of 9.0Bt was recently reported to occur. Some 20km to the east is the 4.0Bt Benga coal deposit where RIV has commenced mining.

The Company has a 70% interest in this tenement, with the remainder held with local partners including Camal & Companhia Lda. Geological mapping and ground verification indicates the potential for coal-bearing Lower Karoo sediments in the north east of the license.

The Company’s recent capital raising has ensured sufficient funding to undertake the initial exploration programme. The planned drilling programme will involve an estimated 2000m of core drilling. Initially, the programme will centre on five wide-spaced deep drillholes at 500-1000m spacings. This will be followed by systematic wide spaced drilling to determine the extent of the coal-bearing stratigraphy. All drill holes will be geophysically logged. The programme will be followed by resource definition drilling in areas of mineralisation.

Muturara
3246L is located 58km South East of the city of Tete and covers approximately 202km². The tenement is located 45km south east of the Moatize Coal Mining Camp (Vale) and adjoins the tenements held under licence by Rio Minjova (Mittal Steel JV) and Global Steel Holdings. The refurbished Moatize-Beira railway line passes some 12km to the east of this licence.

The Company has a 70% interest in this tenement, with the remainder held with local partners including Camal & Companhia Lda. Geological mapping and ground verification indicates the potential for Upper Karoo sediments that may overly coal bearing Lower Karoo sediments in the northern portion of the license.

The Company’s recent capital raising has ensured sufficient funding to undertake the initial exploration programme. The planned drilling programme will involve an estimated 3-5000m of core drilling. Initially 3 to 5 wide-spaced deep drillholes are planned at 500-1000m spacings. This will be followed by systematic wide spaced drilling to determine the extent of the coal bearing stratigraphy. All drill holes will be geophysically logged. The programme will be followed by resource definition drilling in areas of mineralisation.

Previous Company Name: RTL Corporation Limited