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Mozambi Coal (ASX: MOZ) has the right to earn a 70% interest in two licences covering an extensive 385 square kilometres, located in the highly prospective Zambeze Coal Basin, one of the world’s largest undeveloped coal basins. The combined exploration target is between 3.1 and 3.9 billion tonnes of coking and thermal coal.
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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.
The city of Tete is approximately 1100km north of Maputo, the capital of Mozambique and is serviced by several airline flights daily. Road and other modern communications facilities are good. The city of Tete is situated along the Zambeze River, and the Samora Machel Bridge linking Tete and the city of Moatize serves as an essential road link for transportation between Mozambique, Zambia and Malawi.
The existing option for outbound logistics of coal to seaborne markets is the Sena railway corridor that links the city of Moatize to the Port of Beira. Approximately 600km, this railway line was recently refurbished with part funding from the World Bank. In the future, a 900km Nacala railway corridor to the Port of Nacala may also become an option. This existing railway line currently extends from the Port of Nacala to the city of Blantyre in Malawi, and detailed feasibility is underway by government and private sector participants for an extension from Blantyre to Moatize.
Tete West (3245L)
Chairman - Michael Griffiths
Mike joined the Board as Non-Executive Director on 14 April 2010 and was appointed Non-Executive Chairman on 01 December 2010. He is an experienced geologist and senior company executive with over 25 years in the mineral exploration and energy sectors in Africa and Australia. He is currently an Executive Director of ASX-listed African gold mining company Chalice Gold (ASX:CHN) and a Director of TSX-listed African gold exploration company Currie Rose Resources (TSX:CUI). He has overseen the discovery and exploration of significant gold deposits in Tanzania, Eritrea and the Tanami Desert in the Northern Territory. Prior to moving into the minerals sector he spent the first 2 years of his career as a coal geologist in central Queensland. Mike holds a Bachelor of Science (Geology) from Macquarie University in Sydney and is a member of AusIMM.
Managing Director - Shiv Madan
Shiv was appointed Managing Director on 01 March 2011 and holds responsibility for the operating activities and financial performance of Mozambi Coal in Australia and Africa. Shiv has a 14 year background in investment banking and strategy consulting with a focus on commodities and financial markets. Most recently he was head base metals trader at Dresdner Kleinwort in London and previously worked with Lehman Brothers and Daiwa Securities in senior trading and capital raising roles. As Director of Dugal Pty Ltd (100% acquired by Mozambi Coal Ltd), Shiv was responsible for acquiring the Company’s exploration licenses in Mozambique, where he has significant on-the-ground experience and high level relationships. Shiv holds an MBA from the Australian Graduate School of Management and a Bachelor of Commerce from Curtin University.
Executive Director - Alex Neuling
Alex is a Chartered Accountant and Chartered Secretary with over 10 years corporate and financial experience. This experience includes 5 years as director, chief financial officer and/or secretary of various ASX-listed companies in the energy, mineral exploration, biotechnology and mining services sectors. Prior to those roles he worked at Deloitte in London and Perth. Alex is currently principal of Erasmus Consulting Pty Ltd which provides company secretarial and financial management consultancy services to a variety of ASX-listed and other companies. Alex holds an Honours degree in Chemistry from the University of Leeds in the United Kingdom.
Non-Executive Director - Robert Hemphill
Robert has more than 13 years experience in financial accounting, taxation and business advisory services both domestically and internationally. He is a director/company secretary of a number of public and private companies. Robert completed a Bachelor of Business at Charles Sturt University and is a member of the Institute of Chartered Accountants in Australia as well as a registered tax agent.
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Auditor - HLB Mann Judd (WA Partnership)
15 Rheola Street
West Perth WA 6005
150 Stirling Highway
Nedlands WA 6009
PO Box 1156
Nedlands WA 6909
Phone: +61 (0)8 9389 8033
Fax: +61 (0)8 9389 7871