Shumba Energy Ltd has signed a cooperation agreement with two Chinese companies to move forward on the development of a US$1 billion coal-to-liquid plant using coal from the Mabesekwa coal project in Botswana, according to a report in Miningmx.
The agreement was signed between the company's joint venture Coal Petroleum and China-based companies PowerChina International Group Ltd. and Wison Group Holding Ltd.
According to the report of on Aug. 28, Shumba will have an 80% stake in Coal Petroleum.
