Ncondezi Energy Limited Project Update (6060L)
December 28 2018 - 2:00AM
UK Regulatory
TIDMNCCL
RNS Number : 6060L
Ncondezi Energy Limited
28 December 2018
News Release
Project Update
28 December 2018: Ncondezi Energy Limited ("Ncondezi" or the
"Company") (AIM: NCCL) provides a general update on its process to
conclude a binding Joint Development Agreement ("JDA") for the
Company's integrated 300MW power and coal mine project in Tete
Mozambique (the "Project").
Following the announcement on 26 November 2018, the Company has
continued to engage with the Liaison Committee, setup and chaired
by the Mozambican Ministry of Mineral Resources and Energy
("MIREME"), to agree the updated Project work program and
timetable. This process is expected to be finalised in January
2019.
The Company's targets to conclude the JDA and binding
engineering, procurement, and construction ("EPC") and operations
and maintenance ("O&M") contracts during Q1 2019 remain on
track.
Further updates will be provided to investors at the appropriate
time.
Enquiries
For further information please visit www.ncondezienergy.com or
contact:
Ncondezi Energy: Hanno Pengilly +27 (0) 71 362 3566
Liberum Capital Limited: Christopher Britton / Richard +44 (0) 20 3100
NOMAD & Joint Broker Crawley 2000
Novum Securities
Limited: +44 (0) 20 7399
Joint Broker Colin Rowbury 9427
Note:
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation ("MAR"). Upon the publication of this
announcement via Regulatory Information Service ("RIS"), this
inside information is now considered to be in the public domain. If
you have any queries on this, then please contact Hanno Pengilly,
Chief Development Officer of the Company (responsible for arranging
release of this announcement) on +27 (0) 71 362 3566.
Ncondezi owns 100% of the Ncondezi Project which is
strategically located in the power generating hub of the country,
the Tete Province in northern Mozambique. The Company is developing
an integrated thermal coal mine and power plant in phases of 300MW
up to 1,800MW. The first 300MW phase is targeting domestic
consumption in Mozambique using reinforced existing transmission
capacity to meet current demand.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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