Note: We have a number of clients heading down to the Mining Indaba next
month.
If you would like a meeting or more details please do not
hesitate to get in touch.
NCONDEZI COAL COMPANY LTD
("Ncondezi" or the "Company")
Ncondezi to partner with Rio Tinto Coal Mozambique in new study for an
integrated transport corridor development in Mozambique
Ncondezi Coal Company Limited (AIM: NCCL), a coal exploration and
development company with coal assets in the Tete Province in Mozambique,
announces the signing of a new rail and port infrastructure agreement as
part of the Companys strategy to export coal from its Ncondezi Project.
Highlights:
* Ncondezi has signed a new rail and port infrastructure study
agreement ("the Agreement") with Rio Tinto Coal Mozambique ("RTCM"), a
wholly owned subsidiary of Rio Tinto plc ("Rio Tinto"), and Minas de
Revuboe ("Revuboe") to further study greenfield port and rail options
and related infrastructure (together the "Integrated Transport
Development Project" or "ITD Project").
This is a continuation of the
jointly funded order of magnitude infrastructure study ("OoM Study")
which was completed in Q4 2011
* RTCM will lead the necessary study work required to determine
the feasibility of the Integrated Transport Corridor
* The ITD Project represents a scalable solution with the
potential to provide coal export capacity of between 25Mtpa to 100Mtpa
as well as provide broader economic and social benefits to the people
and agricultural industries of Zambezia Province
* The ITD Project has the potential to be the lowest cost rail
transport option for exporting coal from the Tete Province, as it is
expected to be the shortest rail distance to port and will utilise new
and modern infrastructure to maximise economies of scale
* The Agreement entitles Ncondezi to an export allocation on the
ITD Project for all of the planned 10Mtpa export coal production from
the Ncondezi Project
* Ncondezi will not be required to contribute capital to the ITD
Project feasibility or development capital costs
* Ncondezi will have the option to negotiate take-or-pay
agreements with the ITD Project operator once the necessary feasibility
and other study work is completed and a decision is made to implement
the ITD Project
Graham Mascall, CEO of Ncondezi Coal Company, commented:
"Signing of the Agreement with RTCM and Revuboe represents a tremendous
opportunity and step forward for the Company in securing rail and port
capacity for the future export of coal from our Ncondezi Project.
Rio
Tinto has significant experience in developing rail and port
infrastructure projects around the world, and I believe that it is best
placed to lead and implement this project in Mozambique."
Philippe Polman
Account Manager
Direct line: +44(0)20 7861 3921
Mobile: +44 (0)7841 672 830
Pelham Bell Pottinger
5th Floor, Holborn Gate, 330 High Holborn, London, WC1V 7QD
Tel: +44 (0)20 7861 3232 Fax: +44 (0)20 7861 3233
www.pelhambellpottinger.co.uk
.......................................
A CarbonNeutral(r) company
--------------------------------------------------------------------------------
CONFIDENTIALITY NOTICE AND LEGAL LIABILITY WAIVER: The content of this email and any attachments are CONFIDENTIAL and may contain privileged information.
If you are not the addressee it may be UNLAWFUL for you to read, copy, distribute, disclose or otherwise use the information contained herein.
The content of the message and or attachments may not reflect the view and opinions of the originating company or any party it is representing.
If you are NOT the intended recipient then please email back to
------------------------------------------------------------------------------------