Riversdale Mining Ltd has struck a binding heads of agreement with two independent private companies on licences over a package of coal-bearing tenements in Mozambique. The project is located in the Lower Zambezi coal basin in four separate areas, including the Moatize sub-basin. The tenements cover an area of about 203,000 hectares and represent a significant strategic holding in the Moatize Coal Province, which is considered to be one of the largest known, undeveloped coking and thermal coal provinces in the world. The region is within economic reach of the East African coast, with access to deep water ports.
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