8th Aug 2023 12:04
(Alliance News) - Contango Holdings PLC on Tuesday said the installation of the weighbridge at the Muchesu coal project in Zimbabwe was completed last week and is now fully operational.
The natural resource development company with operations in Africa said this enables trucks to collect coal from Muchesu, while meeting the necessary standards for the sale and transportation of bulk commodities in Zimbabwe "and beyond".
Contango said it would also help confirm the the tonnages and subsequent sales totals, while noting that production is ongoing and that a "sizeable" stockpile has been built.
It expects to announce first sales and receive first revenues this month from TransOre International FZE, as previously announced. It will provide further updates upon first sales, Contango said.
Shares in Contango were up 0.3% to 4.82 pence each in London on Tuesday at midday.
By Greg Rosenvinge, Alliance News reporter
Comments and questions to [email protected]
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Related Shares:
Contango Hdg