re: Ann: Progress on Acquisition of Mmamantsw... "Mmamantswe Coal Project
The Mmamantswe Coal Project is in south-eastern Botswana, and comprises a Measured and Indicated Resource of 1.3 billion tonnes of thermal coal, including 895 million tonnes of Probable Reserves.
A 2009 Scoping Study completed by SRK concluded that a 10 million tonnes per annum open-pit mining operation could produce 2.4 million tonnes per annum of washed export coal (22MJ/kg, <20% ash) and 2.1 million tonnes per annum of middlings suitable for power station fuel (15.3MJ/kg, 38% ash) at a ROM (run-of-mine) cash cost of $9.10 per tonne.
An EIA was approved for the project by the Government of Botswana in October 2012.
Advanced discussions with global strategic groups
AFR is known to be in advanced discussions with several global strategic groups to invest directly into Sese Power (Pty) Ltd (wholly owned special purpose vehicle for the Sese Integrated Power Project). A successful outcome would provide working capital to take theSese Integrated Power Project through to financial close without further equity dilution for African Energy shareholders.
Notably for investors, the Sese coal mine will be one of the largest and lowest cost coal producers in Africa with railway within 25 kilometres of the Sese deposit provides access to Indian Ocean ports.
Coal is still in short supply in many Asian markets to fuel power project developments holding Sese in good stead."
Proactive Investor 28/05/13
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