Singapore mining company Nava Bharat Pte announced last week that it intends to spend US$108 million on modernising Maamba coal mine, which it acquired in December last year. The money would be invested in a new coal processing plant and mining equipment over the next 18 months. The mine is expected to produce 360,000 tonnes of coal for the first year. More detail via Reuters.
A noteworthy article on the Windfall Tax, from The Post:
ReplyDeleteWindfall tax on copper was wrong - Mulenga
By Speedwell Mupuchi in Chingola and Kabanda Chulu in Accra, Gh
Tue 31 Aug. 2010, 04:00 CAT