Shumba Coal Limited has announced change of name to Shumba Energy Ltd effective 22 October 2015 as the exploration company moves to energy development.
The directors of the company believe the new name better represents the strategic vision or objectives of the company.
“The new name better represents the strategic vision / objectives of the Company,” Shumba Energy said. The company 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.
However, the Botswana Stock Exchange and Development Enterprise Market codes and ISIN number for the company will remain the same.