Junior raises cash for Botswana coal, power project

Botswana- and Mauritius-listed junior Shumba Coal Resources has raised $2.2-million, which it intends to be invested in its Botswana coal mining and energy project. The Sechaba coal and power generation project is aimed at exporting coal to India and China and at exporting electricity to South Africa, Zimbabwe and Namibia. “Recent scoping studies into power transmission options support the development of the project. Owing to its proximity to the A1 highway, railway line and the existence of large resources of ground water and two river basins, the project is potentially well situated for the development of a mine and a power station,” says MD Mashale Phumaphi.