JSW Group may buy mine in Swaziland |
By e4p Correspondent, Friday, August 28, 2009, 17:04 Hrs [IST] |  |
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Category: Coal, Lignite, Coke | Tags: JSW Group coal mine, Maloma anthracite mine, Swaziland Government coal reserves exploration | Share:  |
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The JSW Group is in advanced talks to acquire a coal mine in Swaziland, Africa, at an estimated cost of $350 million (approx Rs 1,680 crore).
The JSW Group has been carrying out a detailed geological exploration in the Emaswati Colliery (Mpaka Mine) and Maloma anthracite mine, in the eastern part of Swaziland, which has a major portion of the country's over one billion tonne coal reserves.
The group had earlier signed an MoU with the Swaziland Government for detailed exploration of coal reserves in the country. A final approval for prospecting and mining rights is expected to be granted by the mineral management board of Swaziland.
Source : ProjectsToday
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