As it moves to diversify its business, HWANGE Colliery Company Limited (HCCL) has invited bids for methane gas exploration at its Lubimbi coalfields.
The new venture is part of HCCL's turnaround plan designed to boost revenue on the back of a tight liquidity environment and repeated financial losses.
HCCL said, "The company now wishes to diversify its business by venturing into coal bed methane gas production."
The company has since invited eligible and interested bidders with technical and financial capacity to file applications to conduct exploration and drilling activities at Lubimbi.
Bidders have been asked to "delineate coal bed methane and coal resources and reserves."
HCCL would use the exploration statement to mobilise investment or capital for the project.
The new venture is part of HCCL's turnaround plan designed to boost revenue on the back of a tight liquidity environment and repeated financial losses.
HCCL said, "The company now wishes to diversify its business by venturing into coal bed methane gas production."
The company has since invited eligible and interested bidders with technical and financial capacity to file applications to conduct exploration and drilling activities at Lubimbi.
Bidders have been asked to "delineate coal bed methane and coal resources and reserves."
HCCL would use the exploration statement to mobilise investment or capital for the project.