By bne IntelliNews Zimbabwe-based Chinese investor Wencai Huo has agreed to acquire 51% of London-listed Contango Holdings (Contango)’s Muchesu Coal Project (Muchesu) in the southern African nation. Contango said on June 17 that Huo will, in terms of the term sheet, invest $20mn to match what the company has so far pumped into the 2bn-tonne coal project. The funding will be provided either in cash or through the purchase of agreed equipment necessary to advance and expand Muchesu including wash plants and screens. Huo, an established businessman in Zimbabwe, will also secure 20% of Contango. T…