PGI takes control of Muchesu Mine project
Pacific Goal Investments Private Limited will take majority control of Muchesu Mine coal operations in Binga after changes to the original purchase contract. The Zimbabwe-focused investment firm will acquire a 51 percent stake in the project, with equal ownership by principals Wencai Huo and Liu Jun. Documentation reflecting the amended terms has been submitted to the Central Bank for registration.
The investor operates under Pacific Goal Group, a Hong Kong conglomerate with extensive holdings in Zimbabwe. The parent company is building an integrated industrial complex that combines power generation facilities with graphite and nickel processing operations. This ownership shift reinforces connections between the coal venture and established energy sector investors. The revised agreement maintains the planned equity distribution while changing the acquiring entity.
