Zambian firm snaps Sese Power Project up

Wednesday, October 22, 2014

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.

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