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Contango commences coking coal production at its Lubu project

By Business Reporter

HARARE – (Mining Index) – Wednesday 24 May 2023) – LONDON-listed Contango Holdings says it has commenced production of high value coking coal at its Lubu project in Zimbabwe.

“We are pleased to advise that the production of washed coking coal commenced on Tuesday 23 May 2023 at our #CGO flagship Lubu Coking Coal Project in Zimbabwe,” Contango said in a tweet.

Contango has a 70% interest in the Lubu Coal Project (“Lubu”) in Zimbabwe, with the remaining 30% held by supportive local partners.

The Lubu Coal Project covers 19,236 hectares of the highly prospective Karroo Mid Zambezi coal basin, located in the established Hwange mining district in north-western Zimbabwe.

Previous owners have expended more than $20m on Lubu, which has enabled a sizeable resource in excess of 1.3 billion tonnes to be identified under NI 43-101 standard. Contango is currently focussed on mining from Block B2, where extensive work has also been undertaken to define the specific properties of the coal.

The coal seams within Block B2 are from surface down to a maximum depth of 47m, thus ensuring operating costs are kept competitive. – ENDS//

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