The Johannesburg (South Africa) based Hepzibar mining is looking for investors from India for its coal block in Mozambique with an estimated reserve of 8 billion tonnes of coal. The Company intends to invest $200 in the project.
“We are looking for Joint Venture partners from India to develop the Coal block in which we are planning to invest around $200 million. We also seek investors from India for our Diamond block in Namibia.” said Caryn Mpoelang, Director, Hepzibar group during an interaction with ‘steel 360’ correspondent.
The Hepzibar group is a leading miner and exporter of mineral commodities like Iron ore, Chrome and Coal. Established in 2010 the company has received mining rights for diamond beneficiation at Klipkuli farm in Ligtenburg, Namibia in the banks of the Orange river.
The mineral and energy rich Mozambique has become a hot destination for Global mining companies like Rio Tinto, Vale and BHP Billiton. Indian Companies like Coal India, Jindal, Tata Steel and ONGC have also acquired mineral assets in the South-East African Country. The proposal by Hepzibar is expected to attract more Indian Companies to venture into the country.