London-listed natural resources developer Contango Holdings is setting up a Dense Media Separation plant at Muchesu in Binga as it pursues capacity expansion.
The company entered into a binding transaction agreement with the strategic investor Huo Investments to fund the development and expansion of Muchesu, under its US$20 million Revolving Facility Agreement.
The DMS has an estimated production capacity of 3 000 tonnes of washed coal per day.