African Energy seals Sese disposal deal

African Energy has concluded negotiations for a deal to sell a majority stake in its flagship Sese coal and energy project to a Zambia company, First Quantum Minerals (FQM).

Under this deal, FQM will purchased 51 percent stake in the power project located in the central district for  $8 million (P76 million). A statement from the Botswana Stock Exchange (BSE) listed company states that all conditions precedent to the conclusion have been met. “FQM will now purchase an initial 51 percent stake in African Energy Holdings and will become project manager for the Sese project,” reads the statement.

Under the agreement, FQM can earn 75 percent interest in the Sese project through an investment of  $20 million (P170 million) and other loan arrangements.

Editor's Comment
Something ought to be done about deadly A3 Road

The accident which happened near Marapong village comes after yet another horrific accident which claimed 16 lives in July last year near Hubona. These stats don’t include other accidents where fatalities were not as many as the two.While several factors may have contributed to the two accidents and many others, many believe the biggest with that road is the bad state that the road is in. Unconfirmed reports in the most recent accident state...

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