AIM-quoted Bushveld Minerals has appointed technical advisers for the BFS of the Imaloto power project - being run by Lemur Resources, its wholly-owned subsidiary.Bushveld Minerals, a mineral project development company with a portfolio of vanadium and coal assets in Southern Africa and an investment in tin, is pleased to provide the following update about Lemur Resources (Lemur).
Lemur, Bushveld Minerals' coal and energy subsidiary that is developing an integrated thermal coal mining and independent power producer asset in Madagascar, has concluded an open market request for proposal (RFP) process in October 2017 for all studies and services required to complete the bankable feasibility study (BFS) for the Imaloto power project in Madagascar.
In addition, following Anthony Viljoen's appointment as CEO of AfriTin Mining, Prince Nyati, previously project head of Lemur, has been appointed as CEO of Lemur, effective from 9 November 2017.
Viljoen will remain on the board of the company as a non-executive director.
"The appointment of an owner's engineer and other technical advisors is an important step towards the completion of the BFS for the Imaloto power project," says Bushveld Minerals CEO, Fortune Mojapelo.
"The nomination of an environmental adviser demonstrates our commitment to comply with the social and environmental impact regulations in Madagascar.
"More importantly, the social environmental impact assessment (SEIA) will pave the way for Bushveld Minerals to proceed with major works at our project site.
"In addition, to the above, our discussions with Jiro sy Rano Madagascar (JIRAMA) regarding a long term power purchase agreement (PPA) are at an advanced stage and given the support we have received from both the government and JIRAMA so far, we are confident that a PPA will be concluded soon.
"Overall, these new developments will ensure that the project remains on course and they will also reinforce our commitment to delivering reliable, affordable base load power to the people of southern Madagascar and in so doing, help to kick-start the unprecedented economic development activities in the region."
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