Coal is nowhere near dead II24 Jul 2021 12:31
The worlds attitude towards fossil fuels/non renewables has changed out of all proportion in recent years. A decade ago I invested in London and Dunlin based Coal Prospectors in Tanzania.
Edenville have achieved a working licensed coal mine which is their route forward as they also look to diversify “outside coal”.
Kibo who recently RNS’ed their Renewable Energy Strategy have announced their intention to develop a portfolio of Waste to Energy projects in South Africa.
The Directors believe that clean coal-fuelled power projects will continue to be necessary for a transitional period of some decades to support Africa's rapidly increasing energy requirements. The Company has therefore been developing three utility scale, coal-fuelled power projects, located in Tanzania, Botswana, and Mozambique. While these integrate several clean coal technologies such as carbon capture and storage and the latest Circulating Fluidized Bed and flue gas desulphurisation technologies, the Company has also explored renewable energy opportunities for several years to incorporate into the longer-term growth plans of these assets, or as standalone projects.
Kibo therefore intends to appoint specialist advisers to assist it in developing and implementing an appropriate disposal strategy to dispose of its coal assets or possibly reposition these assets to make use of alternative fuel sources other than coal, given rapid advances in developing alternative fuel sources in this domain.
We know that Rufus Short was looking towards South Africa while still CEO and Registered Edenville South Africa Ltd in December 2018. Officers at the time were Jeff Malaihollo - Chairman and Alistair Muir, so this wasn’t just a RS Project.
Kibo have clearly outlined their intentions moving forward. Hopefully in the coming days we (the long suffering) will get an insight as to Edenville’s intend route !!
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