Mining & Energy
Money from the sale of Cahora Bassa shares will be used to update equipment
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Capitol Resources, a subsidiary of Australia’s Baobab Resources, is to hold public consultations on the construction of a steel plant and thermoelectric plant in Tete province in central Mozambique, the company announced yesterday.
In an announcement issued in Maputo, Capitol Resources says that a feasibility study showed that conditions for a steel thermoelectric plant in the region are attractive.
“The definitive feasibility study shows a commercial case that is attractive for the development of a vertically integrated mining and steel industry with a production of pig iron and iron alloy, and a 300-megawatt power plant,” the announcement details.
The purpose of the public consultations is to present the results of the additional Environmental Impact Study of the project and provide an opportunity for the public to clarify related issues.Source: Lusa
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