riversdale mining benga power project mozambiq

nice if AVA could issue a similar announcement...


Further progress made by Riversdale Mining in developing the Benga Power Project

Riversdale Mining Limited (ASX: RIV or “the Company”) is pleased to advise that the company has signed a Framework Agreement for the development of a power plant near its Benga Coal Project in Mozambique.

The Framework Agreement for the Benga Power Plant (“BPP”) between the Government, the company and joint venture partner Elgas SARL, was signed on 9 September by the Hon. Salvador Namburete Minister of Energy.

Riversdale has also recently been granted access to the existing Mozambique power transmission network. As previously disclosed, a key precondition that remains to be satisfied involves concluding satisfactory power purchase agreements with various off-take parties. These discussions are progressing.

The proposed Benga Power Plant will be located in the Tete province of Mozambique in close proximity to Riversdale Mining’s world-class Benga Coal Project which will supply thermal coal to the plant.

Riversdale Mining Chairman Mr Michael O’Keeffe said that the meeting of these key preconditions and the signing of the formal Framework Agreement have provided the company with the further impetus to progress the project in tandem with activity at its major coal project in the region.

“The Benga Power Project will help meet increasing regional demand in Mozambique and in South Africa as well as supplying a cost effective source of energy for our own mine at Benga,” Mr O’Keeffe said.