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Ncondezi Energy issues project update

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World Coal,

Ncondezi Energy Limited has provided a general update on its process to conclude a binding joint development agreement (JDA) for the company’s integrated 300 MW power and coal mine project in Tete, Mozambique.

Following the announcement on 26 November 2018, the company has continued to engage with the Liaison Committee, set up and chaired by the Mozambican Ministry of Mineral Resources and Energy (MIREME), to agree the updated Project work programme and timetable. This process is expected to be finalised in January 2019. The company’s targets to conclude the JDA and binding engineering, procurement and construction and operations and maintenance contracts during 1Q19 remain on track.

Further updates will be provided to investors at the appropriate time.

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