Select Vaccines ventures into African coal and uranium with acquisition

Select Vaccines (ASX: SLT) is launching itself into Africa’s coal and uranium sectors with the gaining of four highly prospective and potentially large scale coal and uranium projects in Tanzania.The company has entered a share sale concord with Indigo Metals to acquire all of the issued capital in two Mauritian companies and their subsidiaries, which own 40 looking at licences in Tanzania.

The licences build up the Mhukura Coal Project, the Rukwa Basin Coal Project, the Ruhuhu Coal Project and the Selous Coal Project.The projects are situated in a region that hosts Intra Energy Corporation’s (ASX: IEC) 251 million tonne Ngaka Basin Project, close to the Ruhuhu Basin, and Edenville Energy’s (AIM: EDL) tenements in the Rukwa Coalfields, where drilling has exposed evidence of thickening to the north of the basin.

Tanzania has not been thoroughly in the past explored for coal or uranium. The majority of the very prospective Karoo stratigraphry, that is known to host world class deposits in neighbouring countries, have never been drilled within Tanzania in most places.