The latest approval allows Ncondezi to mine the 25,138ha surface area Ncondezi coal resources for a 25-year period.
Ncondezi CEO Paul Venter said that the issuance of the Mining Concession marks a very important and significant step forward for the Ncondezi Project.
"It secures the coal fuel supply for the power project, which materially increases the bankability of the
Ncondezi Project, and also fulfils one of the key conditions precedents to the Power Framework Agreement.
"The other key condition precedents for the PFA, namely the Power Purchase and Transmission Heads of Terms with Electricidade de Mozambique ("EdM"), the state owned power utility company, are in the final stages of negotiation and on track for signing by Q4 2013," Venter added.
