RE: Port investment Lake Tanganyika23 Aug 2020 13:52
BILLBLOGS
Yes very nice, every little helps!
The major new transport route for the Company's coal on Lake Tanganyika to both Rwanda and Barundi was covered in the 11/12/2019 RNS, but no harm in repeating it :))
"As a result of this the Company is pleased to announce it has signed two contracts to supply up to 6,000 tonnes and up to 3,000 tonnes respectively of washed coal per month to industrial customers in Rwanda and Uganda.
The up to 6,000 tonnes per month contract has been signed with a Rwandan company, Tara Group Ltd, which is a wholly owned subsidiary of Tanzanian company, Kitanyoe Group Company Ltd, which currently supplies coal, gypsum, limestone and calcite to industrial users. The end user for the Company's coal is expected to be a major cement manufacturer in Rwanda.
The up to 3,000 tonnes per month contract has been signed with a Ugandan company, Springwood Capital Ltd, ("Springwood") with the expected end user being a Kampala based steel works. As with the Tanzanian agent, Springwood supplies limestone, gypsum, calcite and iron ore to consumers in Uganda and Kenya.
The Rwanda contract is of particular note to the Project as it has the potential to open up a major new transport route for the Company's coal on Lake Tanganyika to both Rwanda and Barundi. This is a route that is both shorter than conventional truck transport and is more cost-effective, using low cost barge transport"
Looking better by the day !!