Following the agreement, Global Coke will acquire 26% interest in BHR Mining. The investment is also accompanied by an intention to enter into a mine gate off-take agreement to purchase all of the coking coal produced during the mine life of the Minas Moatize coal mine.
Justin Lewis, executive chairman of Beacon Hill Resources, said: “Through our partnership with both Consolidated Minerals and Global Coke, we gain funding to develop the mine and a buyer for the coking coal produced. We also gain access to a world class expertise on the manufacture of metallurgical coke and access to long standing relationships with major steel producers.
“We look forward to developing our relationship with our partners with a view to exploring further opportunities in the region, as well as the downstream processing of the coal we produce.”
