Advertisement

Zambian firm snaps Sese Power Project up

Sese and Mmamantswe coal deposits map
Sese and Mmamantswe coal deposits map

Zambia’s largest foreign investor, First Quantum Minerals (FQM), is to buy a controlling stake in African Energy’s 300MW Sese Power Project near Francistown through equity and debt instruments.

In a statement released this week, the two companies announced that they had signed a binding Heads of Agreement (HoA).  

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

Advertisement
Editor's Comment
Celebrate responsibly, put safety first this holiday

“Safety first is safety always”– Charles M HayesAs most people begin travelling across the country to spend the President’s Holidays with family and friends, there is every reason to embrace the joy and togetherness that this period brings.While holiday periods bring joy, they are sadly often accompanied by a rise in road accidents, violent incidents and other avoidable tragedies. Too often, families that set out to celebrate together end...

Have a Story? Send Us a tip
arrow up