Ncondezi is a power development company with an integrated thermal coal power plant and mine project located on the Ncondezi licences in the Tete Province, Northern Mozambique.
The power plant project will be developed in phases of 300MW units, up to 1,800MW. The first 300MW phase ("300MW Project") will use existing transmission capacity to meet current demand on the Northern Grid in Mozambique. The Ncondezi coal deposit has a 4.7 billion JORC coal resource which is capable of supporting a large scale, long life operation. The 300MW Project is targeting construction in 2015 and commissioning in 2017. 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, mining, 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 Company is listed on AIM under the ticker symbol: NCCL.