Two companies, Western Metals Product Ltd, and Dencar Services Ltd, have indicated interest in coal-mining in the country.

Two companies made financial commitments of $15 million and $10 million respectively, for two coal fields, adding that all the identified strategic minerals would soon be divided into blocks and presented for bidding.

The Federal Government is to restructure six coal blocks for bidding, as part of its efforts to develop coal, which has great economic potentialities.

Minister of Mines and Steel Development, Chief Sarafa Isola, made this known yesterday in Abuja, adding that the bidding would be done in conjunction with the Bureau for Public Enterprises (BPE).

He said the country had an estimated coal reserve of 2,734 million metric tonnes, adding that the coal had low sulphur and ash content that was ideal for coal-fired power plants.

Isola said coal was one of the strategic minerals that could be found in the country’s six geo-political zones, adding that the coal could be primarily exploited for power generation and other uses.

This News Posted in : Mining Companies | Mining Exploration | Mining Industry | Mining Investment