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PROJECT OVERVIEW

Ncondezi is developing an integrated thermal coal mine and 300MW power plant, located in the Tete Province of northern Mozambique, to supply electricity to the Northern Grid. The project is approximately 92km from the existing power transmission grid. The Company is targeting delivery of first power between end 2023 and beginning 2024.

Ncondezi signed a Joint Development Agreement (“JDA”) with China Machinery Engineering Corporation (“CMEC”) and technology partner General Electric (“GE”) in July 2019. The Mining Concession, approval of both the mine and power plant Environmental Social Impact Assessments are already in place. The next key steps will be:

  • Finalise tariff offer with EDM - H1 2020
  • Finalisation of Ncondezi historic costs - Q2-Q3 2020
  • Finalisation of subscription price - Q2-Q3 2020
  • Finalise PPA and PCA - Q2-Q3 2020

The development of the Ncondezi Project will see a substantial investment into the Tete Province, generating domestic revenue streams, stimulating regional development, creating employment opportunities and strengthening and diversifying the country’s production base.

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