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Lubu coal project gets major boost

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HWANGE – London listed natural resource development company Contango Holdings PLC on Friday reported better-than-expected test results on samples from its Lubu coal project in Zimbabwe.

The Lubu Coal Project covers 19,236 hectares of the highly prospective Karroo Mid Zambezi coal basin, located in the established Hwange mining district in north-western Zimbabwe.

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Contango Holdings said the results exceeded expectations and confirm the viability of Lubu’s metallurgical coal for the production of coke.

The company said it received the results from a set of sample analyses conducted by Bureau Veritas of South Africa. The analyses assessed a variety of metrics and properties derived from the metallurgical seams at the Lubu Coal Project, including ash, sulphur and phosphorous contents, as well as yield and calorific values.

The results, which are reported in full below, have exceeded the Company’s expectations and also confirmed the viability of Lubu’s metallurgical coal in the production of coke, the key reactant and fuel in primary steelmaking.

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Carl Esprey, chief executive officer of Contango Holdings, explained that the results have exceeded the Company’s expectations and also confirmed the viability of Lubu’s metallurgical coal in the production of coke, the key reactant and fuel in primary steelmaking.

“We are delighted with the results from this study, which have demonstrated the commercial characteristics of the metallurgical coal at Lubu, as well as its viability in the manufacture of coke,” Esprey said.

“This positive news has come at a time when demand for all forms of coal has risen significantly and has led to an increase in the metallurgical coal price from US$161/tonne to US$451/tonne over the last year,” Esprey said.

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He added that the price of coke, the product achieved through the ‘cooking’ of metallurgical coals through coke batteries, has also seen dramatic prices rises, with an 70% increase over the same period to current levels of approximately US$670/tonne.

“With current shortages, the price of coke is likely to increase even further,” he said. “With the studies now completed and both a regional and global market identified, I believe Lubu is ideally positioned to benefit from this pricing outlook

“This positive news has come at a time when demand for all forms of coal has risen significantly and has led to an increase in the metallurgical coal price from US$161/tonne to US$451/tonne over the last year,” Esprey said.

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He added that the price of coke, the product achieved through the ‘cooking’ of metallurgical coals through coke batteries, has also seen dramatic prices rises, with an 70% increase over the same period to current levels of approximately US$670/tonne.

“With current shortages, the price of coke is likely to increase even further,” he said.

“With the studies now completed and both a regional and global market identified, I believe Lubu is ideally positioned to benefit from this pricing outlook.”- Hourly Hits

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In the community

Victoria Falls launches bill-payment incentive program to drive municipal growth

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BY NOKUTHABA DLAMINI

The City of Victoria Falls has launched a promotional campaign offering prizes ranging from solar power systems to helicopter rides to encourage residents to settle their utility bills and rates.

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The initiative, titled the “Pay and Stand a Chance to Win Promotion,” began on April 2, 2026, and is scheduled to run in three-month cycles through the end of the year. According to a notice issued by Town Clerk Ronnie Dube, the program aims to have residents work together to contribute to the continued growth and improvement of the city.

To qualify for the draws, domestic customers in high-density suburbs must pay at least 30% of their outstanding balance or a minimum of US$100. Residents in medium and low-density suburbs are required to pay at least 30% of their debt or a minimum of US$200.

The city is offering a tiered prize structure to incentivize different levels of payment. Four 3KVA solar systems are reserved as grand prizes for residents who achieve a zero-balance account. Other prizes in the pool include four refrigerators, four gas stoves, and 100 solar lights.

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Leveraging its status as a World Heritage Site, the city is also offering four “Flight of Angels” helicopter rides, four boat cruise tickets, and four complimentary dinner tickets for two. Consolation prizes such as city-branded T-shirts will also be available.

The first draw is scheduled for the second week of July, followed by a second draw in October. The final and grand draw will take place in the second week of January 2027. Residents can enter by making payments at Council Pay Points and dropping their receipts into designated entry boxes.

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National

30 killed in Easter road crashes as pedestrians bear the brunt

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BY WANDILE TSHUMA 

The Zimbabwe Republic Police has reported a worrying rise in road fatalities during the 2026 Easter holiday, despite a decline in the total number of accidents.

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According to the police, 30 people were killed in road traffic accidents during the holiday period, up from 24 deaths recorded in 2025. However, the total number of accidents dropped from 384 in 2025 to 337 in 2026, while injuries also decreased significantly from 178 to 104. 

Police said 22 of the recorded accidents were fatal, compared to 21 during the same period last year. 

Pedestrians most affected

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Pedestrians accounted for the majority of fatalities, making up 63% of the deaths (19 people). Passengers were the second most affected group with seven deaths (23%), followed by drivers with three (10%), while one rider (3%) was killed. 

Speeding, overtaking blamed

Authorities identified speeding as the leading cause of accidents during the period, with many drivers losing control of their vehicles. Unsafe overtaking was also cited as a major contributor to head-on collisions. 

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Deadly incidents recorded

One of the most tragic incidents occurred on 2 April 2026, when six family members died after a head-on collision between a Toyota Corolla and a truck along the Harare–Masvingo Road. 

In another traffic accident , seven people were killed and four injured on 3 April 2026 at the 51km peg along the Bulawayo–Beitbridge Road. A truck rammed into three vehicles — a Nissan March, Toyota Probox and Toyota Hiace — before striking pedestrians who had gathered at the scene. 

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Police warning

The police have urged motorists to exercise caution, obey traffic laws and avoid speeding, especially during peak travel periods. Drivers involved in accidents are also being reminded to stop, render assistance and report incidents.

 

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National

Econet InfraCo targets ultra-luxury market with Vic Falls resort

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BY STAFF REPORTER 

Econet InfraCo has unveiled plans for a multimillion-dollar luxury resort in Victoria Falls, marking a strategic push by the billion-dollar infrastructure platform into high-end tourism.

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The development, branded Vic Falls Lifestyle, will feature 40 luxury residential villas supported by premium amenities, including restaurants, wellness centres and sports facilities.

Chief executive Fayaz King described the project as a landmark for Zimbabwe’s luxury tourism segment.
“These will be among the most exclusive residential properties ever developed in Zimbabwe, designed to meet top-tier international hospitality standards comparable to presidential suites in leading global hotels,” he said.

The project aims to reposition Victoria Falls as a destination for affluent global travellers seeking privacy, exclusivity and fully integrated services.
Recently listed on the Victoria Falls Stock Exchange with a valuation of about US$1 billion, Econet InfraCo said the resort will include a 24-hour, 10-bed private hospital offering emergency and dental services—an amenity tailored to high-net-worth clientele.
Security and privacy will be central to the offering, with the gated development providing round-the-clock protection for residents and guests.

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Under the investment model, buyers will own individual villas but will be required to place them in a rental pool for up to 11 months a year, balancing personal use with income generation.

“Victoria Falls needs developments of this calibre to attract visitors who not only spend, but invest,” King said.

Econet founder and group chairman Strive Masiyiwa played an advisory role in shaping the concept and is expected to be among the property owners.
The company said the project has already drawn interest from local and diaspora investors, as well as international buyers.

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Land has been secured, planning is at an advanced stage, and construction is scheduled to begin before year-end.

The Victoria Falls resort is Econet InfraCo’s second major project. Its flagship, Econet Tech City, is a planned industrial and technology hub near Robert Gabriel Mugabe International Airport in Harare, expected to host around 300 businesses across more than 800 hectares.

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