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South African Mining Giant, Tumagole Consortium Keen On Investing R55 Billion In Lupane Methane Project

5 years agoThu, 31 Jan 2019 09:23:00 GMT
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South African Mining Giant, Tumagole Consortium Keen On Investing R55 Billion In Lupane Methane Project

A South African mining company, Tumagole Consortium is mulling plans to invest 55 billion Rand into the coal-bed methane mining project in Lupane.

This was revealed yesterday when Tumahole Consortium officials, led by South African Ambassador to Zimbabwe Mr Mphakama Mbete, paid a courtesy call on Vice President Constantino Chiwenga.

Tumahole has already started working on the project under a non-binding agreement. The company said that it would invest if it got a binding contract. Speaking about the courtesy call on Chiwenga, Ambassador Mete said:

The purpose of the meeting was to discuss with Vice President Chiwenga possible further investment with Zimbabwe in the mining area. Today, we have brought a company called Tumahole Consortium to meet the Vice President. They are into mining.

The talks started about possible cooperation between the two countries and it is important to note that the ministers and the governors met at the instructions of the two Presidents.

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The talks are sensitive and very strategic. So we will inform the world and the media as progress comes. They are so sensitive that at this moment, they are only being handled at the level of the ministers.

More: The Herald

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