Junior coal miner, Coal Brick has seen coal exports to countries in the northern corridor doubling to more than 10 000 tonnes per month over the past 12 months due to increased demand and an attractive price, an official said.
Coal Brick executive chairman ,Cephas Mandlenkosi Msipa said yesterday that the company has seen growth in exports despite the entry of new players in coal mining sector.
“At first we feared the new players would eat into our market but we have seen exports doubling. We are now doing more than 10 000 tonnes per month for countries in the North,” he said.
Msipa added that demand especially in Zambia was high due to the resurgence of many copper mines.
Coal companies are also being attracted by the northern markets which reportedly offer better prices compared to South Africa.
Industry players say the state’s Minerals Marketing Corporation of Zimbabwe applies a two-tier pricing system on coal, which puts the price at $180 per tonne when exporting to South Africa and $260 per tonne to the northern markets.
Coal Brick started operations in 2010, producing 500 000 tonnes of coal in its first year. The firm is owned by a consortium of investors – Redmagic Holdings, Pan African Energy, Liketh Union, Liketh Finance, Vulner Investments and Blackhealth Investments – all with a combined net asset value of $3.5 billion.-The Source
Coal Brick doubles exports as demand rises
Junior coal miner, Coal Brick has seen coal exports to countries in the northern corridor doubling to more than 10 000 tonnes per month over the past 12 months due to increased demand and an attractive price, an official said.
Coal Brick executive chairman ,Cephas Mandlenkosi Msipa said yesterday that the company has seen growth in exports despite the entry of new players in coal mining sector.
“At first we feared the new players would eat into our market but we have seen exports doubling. We are now doing more than 10 000 tonnes per month for countries in the North,” he said.
Msipa added that demand especially in Zambia was high due to the resurgence of many copper mines.
Coal companies are also being attracted by the northern markets which reportedly offer better prices compared to South Africa.
Industry players say the state’s Minerals Marketing Corporation of Zimbabwe applies a two-tier pricing system on coal, which puts the price at $180 per tonne when exporting to South Africa and $260 per tonne to the northern markets.
Coal Brick started operations in 2010, producing 500 000 tonnes of coal in its first year. The firm is owned by a consortium of investors – Redmagic Holdings, Pan African Energy, Liketh Union, Liketh Finance, Vulner Investments and Blackhealth Investments – all with a combined net asset value of $3.5 billion.-The Source
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