Name of the Project
Imaloto independent power producer (IPP) coal-fired power plant project.

Location
The power plant will be located at the mine mouth of Lemur’s coal deposit, in Madagascar.

Client
Lemur Holdings, a subsidiary of Bushveld Minerals.

Project Description
The project involves the construction of an initial 60 MW IPP coal-fired power plant and an associated 138 kV, 200 km transmission line.

The power plant is expected to be fuelled by coal from Lemur’s coal mining permit area in Madagascar, which has a Joint Ore Reserves Committee-compliant resource of about 136-million tonnes of coal.

Potential Job Creation
The project will support the regional economy by creating 1 650 direct jobs, some of which have been filled. However, the majority of jobs will be available during the construction phase, which will start in the next year or two.

Value
Not stated.

Duration
The project is expected to be commissioned in 2021.

Latest Developments
Bushveld Minerals subsidiary Lemur has completed the review of the bankable feasibility study (BFS) for the power aspect of its Imaloto integrated thermal coal mining and IPP project.

It has also issued a request for proposals for legal advisory services to draft and negotiate engineering, procurement and construction contracts for the power project.

Further, the company has initiated the review process for the final draft of the BFS for the coal mine portion of the project.

It has also continued to progress the social- and environmental-impact assessment study fieldwork for the project.

Due diligence for the project preparation finance has been concluded with one lender, while engagement with all lenders on project financing continues.

Lemur is also engaged in advanced discussions with an export credit insurance provider for credit and political risk insurance cover.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
The Imaloto project remains on track to deliver electricity to Madagascar by 2021.

Contact Details for Project Information
Bushveld Minerals, Fortune Mojapelo, tel +27 11 268 6555.
Sinohydro Corporation, email africa@sinohydro.com.