AFRICAN ENERGY PROGRESSES SESE PROJECT FUNDING TALKS **ORONE,...

AFRICAN ENERGY PROGRESSES SESE PROJECT FUNDING TALKS
 
GABORONE, Jan 16
African Energy Resources expects to conclude discussions by the end of March with up to 12 potential investors in its Sese thermal coal and power generation project in eastern Botswana.
It says commercial negotiations have begun on non-binding draft term sheets with several global strategic groups to support development of the 2.5Bt thermal coal project.
The project includes an initial 300MW minesite power station and an export operation utilising existing rail and port infrastructure.
Negotiations are continuing with an electrical utility on a 100% offtake agreement from the Sese Power project.
African Energy says the continuing prefeasibility study has found the project is technically and economically robust, and a definitive feasibility study is due to start in 3 months.
Negotiations for Sese export coal marketing rights are also expected to conclude by the end of the current quarter.

African Energy Resources Ltd
Exchange Code: 
ASX:AFR, BSE:AFR
Website: 
http://www.africanenergyresources.com
Mining and energy development company headquartered in Australia with offices in Botswana, Zambia, Perth and Guernsey. The Company has coal projects in Botswana and Zambia, including the flagship Sese Coal and Power Project that contains over 2.6 billion tonnes of thermal coal.