Coal and uranium exploration company Atomic Resources has secured the concession rights to two new exploration locks covering the northern extension of the Ngaka coalfield in western Tanzania.
Atomic MD, David Holden said “The new concessions double the size of the exploration territory in the Ngaka coalfield, increasing the resource potential for Atomic, and giving Atomic a dominant position in the Tanzanian coal industry.” He added that the new concessions strengthened the company’s position in Tanzania’s coal industry, as well as its relationship with its joint-venture partner, the National Development Corporation of Tanzania.
The Tanzanian government recently announced its intention to build a number of new 400 MW thermal coal power stations by 2011, which would form the basis of the nation’s domestic power supply.
“Tanzania is growing rapidly and requires substantial, cheap, and reliable sources of energy to fuel its economic development. Atomic’s substantial thermal coal fields in western Tanzania are ideally situated to provide feedstock for coal-fired power stations, already being planned for Tanzania, and we are at the forefront of this fast-growing new industry,” said Holden.
Source: Mining Weekly
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