ICVL Group of companies` coal assets are situated in Tete Province, Mozambique. ICVL Group of companies` coal assets are situated in Tete Province, Mozambique. The referred coal assets are held through 2 (two) Mozambican incorporated companies: "Minas de Benga, Lda" (“MBL”) and "ICVL Zambeze, Lda" (“IZL”). 

MBL holds an operating coal mine (Benga Coal Mine) under Mining Concession 3365C, located in Moatize District, Tete province, Mozambique.
IZL holds the Mining Concession 4695, located partly in Tete city, Tete province, and partly in Moatize District, Tete province. There are also four (4) other Mining Concessions held by IZL located in the Tete-East area.

Both MBL and IZL are ultimately held by an Indian joint venture company (named “International Coal Ventures Limited”) which comprises three (3) shareholders, all steel manufacturing public companies in India (SAIL; NMDC; and RINL), which are owned by the Government of India. 
The Benga Coal Mine Project is an open cast mine which started mining in the latter part of 2012. It has a state of the art Coal Handling & Processing Plant (CHPP). The Benga Coal Mine CHPP is currently designed to process 5.3 MTPA Run-of-Mine (ROM) coal. The operating Benga Mine has proven reserves of 236 Million tonnes of coal. 

The ROM coal is washed in the CHPP to produce three coal products: Hard Coking Coal (HCC) at 10% to 13.5% ash; Thermal Coal (TC) at 27.5% to 28% ash, and; Low Heat Value Coal (Power Grade Coal) at 50% to 60% ash. In addition, there are Tailings generated from CHPP which also has good heat value. 
The products of CHPP Hard Coking Coal (13.5% Ash), Thermal Coal and Low Heat Value Coal are produced ideally in the ratio of 35:10:50 with 5% as Tailing Coal. Coking Coal with 13.5% ash is exported to India for consumption by the promoter companies (SAIL; NMDC; and RINL) in steel plants.

The coking coal produced at CHPP is hauled by trucks to the railway siding, about 15 km from CHPP. It is loaded there into company´s own trains and transported to Beira port (through the Sena Railway Line) at a distance of about 590 Km. MBL owns a fleet of 15 locomotives and 310 wagons with average carrying capacity of 62 tonnes for transportation of coal from mine to the port. The fleet of locos and wagons is capable of transporting more than 1.6 million tonnes of coal per annum.

At Beira port Coal Terminal, TCC-8, is used for loading coal into vessels from Quay 8. The current assessment of TCC-8 capacity is 6 MTPA. Beira is a Tidal Port and has low draft of about 9.5 meters. This creates a restriction on the vessel size and sailing is restricted to day time of high tides.