🕐18.01.12 - 08:27 Uhr

NCONDEZI TO PARTNER WITH RIO TINTO - AIM:NCCL



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 ------------------------------------------------------------------------------------






Products & Services | Jobs