18 October 2012
African Energy Signs MOU with Power Station EPC Contractor
African Energy Resources Limited (AFR) is pleased to announce that it has today executed a Memorandum of Understanding (MOU) with a significant international engineering, procurement and construction contractor (EPC Contractor) in relation to AFR�s proposed 300MW coal-fired power project and associated mine, to be located at Sese in the Republic of Botswana (the Sese Power Project). The EPC Contractor has extensive experience in the construction of power projects similar in technology and size to the Sese Power Project and has prior experience operating in Botswana.
The MOU is non-binding in nature and contemplates the negotiation and execution of two separate binding agreements over the next few months. The first is an agreement for the EPC Contractor to provide engineering and consultancy services to assist AFR in the completion of its Bankable Feasibility Study for the Sese Power Project. The second is an agreement for the engineering, procurement and construction of the Sese Power Project, which would be subject to a number of conditions, including the raising of adequate project financing.
The fuel for the Sese Power Project will come from AFR�s adjacent Sese Coal Project, which has a total Measured and Indicated Resource of 2.5 billion tonnes.
To view the Announcement please click here
Head Office: Level 1 | 8 Colin Street | West Perth WA 6005 Australia
Tel: +61 8 6465 5500
Twitter: @African_Energy
Web: www.africanenergyresources.com
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African Energy Resources Limited
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DEVELOPMENT STAGE |
CODE : AFR.AX |
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African Energy is a uranium exploration company based in Australia. African Energy holds various exploration projects in Malawi, in Zambia and in Zimbabwe. Its main asset in development is GWABE (CHIRUNDU) in Zambia and its main exploration properties are NORTHERN LUANGWA VALLEY, LUANO VALLEY, ALDERSHOT, KARIBA VALLEY JV, CHIRUNDU JV, NJAME, LUANO and CENTRAL LUANGWA VALLEY in Zambia, SESE in Botswana and KARIBA in Zimbabwe. African Energy is listed in Australia. Its market capitalisation is AU$ 20.1 millions as of today (US$ 14.5 millions, € 12.7 millions). Its stock quote reached its highest recent level on February 25, 2011 at AU$ 1.00, and its lowest recent point on March 20, 2020 at AU$ 0.01. African Energy has 609 000 000 shares outstanding. |