en plus...
He said Nava Bharat Limited has since started negotiations with the Zambia Electricity Supply Corporation (ZESCO) over the power purchase agreement in which the company wants to be selling power to ZESCO.
Mr. Mwale also disclosed that Maamba Collieries Limited will begin the production of coal in November this year. He said the company is currently undergoing different rehabilitation works in readiness for resumption of operations.
He revealed that about US$ 93 million will be needed for recapitalisation of the company
Mr. Mwale said once operational the company will produce 360,000 tonnes of coal by 2011 while it will increase its production to over 1 million when it starts producing at its peak for both market and the power plant.
He said the company has total coal reserves of 78.2 million tonnes of reserves and a life span of over 70 years. Mr. Mwale said over 750 people will be employed at the mine out of which 380 will be employed at the thermo power station.
Nava Bharat last year acquired 65 percent equity in Maamba Coal Mine while ZCCM –IH holds 35 percent shares.