Zimbabwe to be a net exporter of diesel

Zimbabwe to be a net exporter of diesel
Published: 30 January 2012 (1286 Views)
South African coal miner LontohCoal plans to build a 50 000 barrels-per-day coal-to-liquids plant in Zimbabwe, with commissioning expected in 2017, its chief executive officer Tshepo Kgadima said on Tuesday.

He said the CTL plant, expected to cost $5,5 billion, would be supplied by thermal coal coming out of the Lubimbi coal project, in which the company holds a 51% stake.

Lubimbi is expected to produce 27 million tonnes of thermal coal a year.

Kgadima said he did not foresee any difficulties in raising money for the project, even if it is to be based in Zimbabwe, adding political risk in the country was likely to ease.

The company plans to raise up to $500 million when it lists in Hong Kong in early 2012.

The listing had been delayed slightly as the company sought to secure an offtake agreement for a big part of its coal, which Kgadima said would make it more attractive to investors.

LontohCoal decided to have its primary listing in Hong Kong as opposed to Johannesburg given its large exposure to Asia.

The 18 million tonnes of coking coal per year expected from the Lubimbi deposit in Zimbabwe would be exported, most of it destined for China, he added.

- ND

Tags: Diesel,
 0

You May Like These Videos

Comments

There are no comments.

Latest stories

'I survived the Mugabe and Wenger eras'

by Staff Reporter | 21 April 2018 | 72 Views

Sacked Zimbabwe nurses get public support

by Staff Reporter | 21 April 2018 | 105 Views

UK wants Zimbabwe back in the Commonwealth

by AFP | 21 April 2018 | 80 Views

Celebrating Independence Day

by Chikuni Gaba | 21 April 2018 | 55 Views

Illegal miners feared dead as mine shaft collapses

by Simbarashe Sithole | 21 April 2018 | 50 Views

Chamisa heightens efforts to court G40 cabal members

by Staff Reporter | 21 April 2018 | 57 Views

Khupe faces moment of truth

by Staff Reporter | 21 April 2018 | 71 Views

Beitbridge attains municipality status

by Staff Reporter | 21 April 2018 | 39 Views

Constitutional Court rules expulsion from Parliament urgent

by Staff Reporter | 21 April 2018 | 44 Views

Man bashes Ex-wife for 'infecting him with HIV'

by Staff Reporter | 21 April 2018 | 35 Views

Mafikizolo, Mi Casa, Dana lead Sama nominees

by Staff Reporter | 21 April 2018 | 41 Views

How am I making the life of my Mthwakazi brother better

by unknown | 21 April 2018 | 43 Views

MDC Alliance on a knife edge

by Staff Reporter | 21 April 2018 | 54 Views

Mudede in ID mop-up exercise

by Staff reporter | 21 April 2018 | 45 Views

Bosso take on unpredictable Shabanie

by Staff reporter | 21 April 2018 | 50 Views

+15 gold panners feared dead after 24hr-trap

by Staff reporter | 21 April 2018 | 41 Views

Khupe expulsion case urgent

by Staff reporter | 21 April 2018 | 55 Views

SRC hits back at Chiyangwa

by Staff reporter | 21 April 2018 | 46 Views

Mr Cooper joins Talen Vision

by Staff reporter | 21 April 2018 | 46 Views

Chiyangwa slams ex-SA ref Ngcobo after expose

by Staff reporter | 21 April 2018 | 55 Views

Mnangagwa is not presidential material comments haunt Kaseke

by Staff reporter | 21 April 2018 | 48 Views

Vehicle registration fees slashed by 50%

by Staff reporter | 21 April 2018 | 43 Views

Fired nurses served with dismissal letters

by Staff reporter | 21 April 2018 | 30 Views

MDC-T congress kicks off in Bulawayo

by Staff reporter | 21 April 2018 | 27 Views

Meet the soldier who read Mugabe the riot act

by Staff reporter | 21 April 2018 | 38 Views

Zanu-PF Politburo approves candidates

by Staff reporter | 21 April 2018 | 24 Views

Acid woman to sue police officers

by Staff reporter | 21 April 2018 | 32 Views

Mnangagwa using military's 'spider-web' campaign strategy

by Staff reporter | 21 April 2018 | 65 Views

Thomas Mapfumo keen to unite Mnangagwa, Chamisa

by Staff reporter | 21 April 2018 | 30 Views

Zuma's 24 year old lover gave birth to baby boy on JZ's birthday

by Staff rpeorter | 21 April 2018 | 25 Views

Mujuru rolls out umbrella campaigns

by Staff reporter | 21 April 2018 | 23 Views

Fresh headache for Chamisa's Alliance

by Staff reporter | 21 April 2018 | 26 Views

Mnangagwa's hands tied to deal with stubborn Mugabe

by Staff reporter | 21 April 2018 | 25 Views

Outrage over Mohadi's SA trip

by Staff reporter | 21 April 2018 | 25 Views

Khupe commence multiplicity of actions to dethrone Chamisa

by Staff reporter | 21 April 2018 | 27 Views