Junior coal explorer, Shumba Coal Limited, has notified its shareholders that its directors want to change the company name to Shumba Energy Ltd. The name change however is subject to the company receiving approval from regulators.
The company is majority owned by Batswana and suggests that adding ‘energy’ will represent its ambitions better.
“The Directors propose to change the name of the Company from “Shumba Coal Limited” to “Shumba Energy Ltd”, subject to receipt of the necessary regulatory approvals,” the company stated on the Botswana Stock Exchange website. It said a formal announcement of the name change will be made in due course.
“The Directors believe that the proposed new name better represents the strategic vision / objectives of the Company.”
Shumba is in the business of acquisition and development of highly prospective coal exploration licences in Botswana and it is in the process of becoming an energy developer.
The company’s flagship project, Sechaba Project, has approximately 1 billion tonnes of thermal coal and is next door to only operating coal mine in Botswana. Sechaba has multiple 300MW opportunities for domestic and export power and can also export large tonnages via existing rail, according to the company website.
The Sechaba project is located some 47 km north-north-west of the town of Palapye. The Palapye area is where there is major exploration by other companies and it is where Morupule Colliery, owned by Debswana is located.
It also has an agreement in place with Mulilo Renewable Project Developments (Pty) Ltd for the joint development of the Mabesekwa Export Independent Power Plant (MEIPP) at the Mabesekwa Coal Project. The project is aimed at taking part in the South African Coal Base Load IPP programme.
Mulilo is an Independent Power Producer (IPP) developer and investor which was originally formed in 2008 and works closely with project developers, technology providers, regulators and investors to source and develop premier energy projects.
Boikobo Paya joins Shumba as non-executive director
Shumba also said it has appointed Boikobo Paya as a non-executive director of the company effective 1 July 2015. Paya, a Botswana national, holds a BSc and an MPhil in geology and has extensive research experience.
He is currently director of research at the Botswana International University of Science and Technology (BIUST). He was the permanent secretary in the Botswana Ministry of Minerals, Energy and Water Resources from October 2010 to August 2014.
Paya was the deputy permanent secretary in the same ministry, responsible for the water and energy sectors, a post he held from October 2008. The Company Chairman, Alan M. Clegg said the appointment of Paya as non-executive director of the company is ‘indeed significant’.
“We as your Board believe he will prove to be of great strategic value to the Company moving forward resultant from his extensive local experience and understanding of the Company’s sectors of focus. Accordingly we are looking forward to his contribution to establishing the Company as the pre-eminent developer and operator in Botswana.”