8th Oct 2013 09:31
LONDON (Alliance News) - Ncondezi Energy Tuesday said it has received approval for its Environmental Social Impact Assessment for the Ncondezi mine in Mozambique.
The integrated thermal coal mining company said Mozambique's Ministry for Coordination of Environmental Action approved the assessment for its 300MW mine and power plant project and the company will now commence its application for an environmental permit.
The company said the Ncondezi mine will target production of 1.3 million tonnes per annum of saleable product and mine commissioning is planned for the second half of 2016.
Ncondezi said that it has also recently completed an additional infill drilling core test to increase drill density and upgrade its indicated resources, results of which are expected in the fourth quarter.
Ncondezi shares were down 4.4% to 10.75 pence Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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