Polo Resources new co-chairman plans to advance the group's oil and gold investments strategically in 2013.

New MD Michael Tang says today's announcements are a turning point in Polo’s development.

Ncondezi Coal said it has signed a power framework with government of Mozambique. This is an important step towards developing a generating plant alongside the group’s thermal coal project in the country’s Tete region. With the agreement the company can now initiate talks with potential power off-takers, including Electricidade de Mozambique.

The recent sharp increase in the share price of Churchill Mining suggests investors are now dialling into the potential of what could be a bumper pay-out for the mining company if arbitration proceedings go its way.

Coal of Africa says the quality of its coking coal at Makhado, South Africa has been verified by an independent study by consultant Wood Mackenzie.