IEC awarded Mining Licence
August 22, 2011
Intra Energy Commences Mining at its Mbalawala Mine After Receiving Mining Licence
Intra Energy Corporation Limited (IEC) is pleased to announce that the Mining Licence has been issued to Tancoal Energy Limited (Tancoal) over the initial mining area of the Mbalawala Mine at the Ngaka Coalfields in southwest Tanzania (refer figure 1.0). Tancoal is a Joint Venture between IEC (70%) and the National Development Corporation of Tanzania (30%).
Coal mining will commence during August when land compensation has been finalised. Mining will commence at the rate of 10,000 tonnes per month to meet sales contracts to local industry. Production will increase as additional sales contracts are concluded. The Company owns and operates its own fleet of mining and hauling equipment.
Product coal will be trucked to the Ndumbi load-out port on the east shore of Lake Nyasa where it will be loaded onto barge vessels to transport to the Itungi receival port on the northern shore of the lake for sales offtake. Transportation infrastructure is currently in place to meet initial contracts.