Ncondezi Coal Company Limited, a coal exploration and development company with coal assets in Tete Province in Mozambique, has announced that it has signed a framework agreement with the Ministry of Mineral Resources of the Republic of Mozambique for its Ncondezi coal project in Tete Province.
The agreement provides for mutual cooperation between the company and the ministry and a mining contract will follow the agreement to govern the project's development and operations. While the definitive feasibility study is about to be completed, the company has started the permitting stage.
The total coal resource at Ncondezi recently increased from 1.7 billion mt up to 4.7 billion mt. The company is also said to be looking for a strategic partner to help develop the project.