- Mozambique Government owned Empresa Moçambicana de Exploração Mineira (EMEM – Mozambique Mining Exploration Company) and Cokal will jointly develop coal projects that EMEM gain title to in the emerging, vast Mozambique metallurgical coal basin.
- EMEM will have 20% ownership and Cokal 80% of the JV company.
- Cokal will provide funding for exploration over 3 years.
- EMEM provide exploration licences
- The Agreement between EMEM & Cokal provides for post exploration development through to mining and sale of coal.