Ncondezi Coal Company (“Ncondezi” or “the Company”) is a near term integrated thermal coal and power generation company listed on AIM under the ticker symbol: NCCL.
The Company is focused on the phased development of its Ncondezi Project, located in the Tete Province in Northern Mozambique, which has a 4.7 billion JORC resource capable of supporting a large scale, long life operation.
The first phase of development is a 300MW integrated mine and power plant project (300MW Project) which will use existing transmission capacity to meet current demand. The 300MW Project is targeting construction in 2014 and commissioning in 2017 and the cost of the project is estimated between US$500 – US$600 million.
The Ncondezi Board and management team is made up of individuals with significant experience across the key areas of mining, power, project development, operations and finance. The team enjoys strong relationships with all levels of Government and is complemented by a group of internationally recognised world class consultants in the fields of power, geology, technical, social and environmental.
Ncondezi’s power project is closely aligned to the Mozambican Government’s stated objective of accelerating the electrification of the country and expanding access to electricity. Mozambique is the largest exporter of power to South Africa and yet only 20% of the country is currently electrified. The 300MW Project will help Mozambique maximise the potential of its resources creating direct and indirect jobs, in-country beneficiation, contributing to the economic development of the country’s industrial and consumer bases and most importantly advancing social upliftment.
The export component of the Ncondezi Project will be initiated only when rail and port infrastructure in Mozambique is sufficiently advanced.