25th Mar 2014 13:26
LONDON (Alliance News) - Beacon Hill Resources PLC Tuesday announced developments at its Minas Moatize Coking Coal Mine in Tete, Mozambique and moves towards debt funding.
The steel and coal production company said it successfully offloaded 90 coal rail wagons at the Port of Beira on March 7 and 5 Grindrod rail locomotives have been completed to improve the railway plan and are expected to arrive by rail in Mozambique in early April.
The company said its discussions with sub-leasing counterparties is well advanced and it expects to complete these talks during the second quarter, in line with the availability of its full train development.
Beacon Hill Resources shares were down 1.9% to 0.663 pence Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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