The Muchesu mine in Zimbabwe was officially opened by Zimbabwe’s president Dr. Emmerson Mnanagagwa, on August 1. Previously known as the Lubu coal project, Contango Holdings owns and controls 70% of the Muchesu project.
It reportedly has a resource in excess of 1.3 billion metric tons (mt).
Delivering an address commemorating the mine and processing facilities, Mnangagwa described the project as “transformational” for the community and the country. He said he believed that the confidence shown by investors was testimony that Zimbabwe was “open for business.” He also highlighted the importance of the coal industry to Zimbabwe’s energy sector.