SNRP.L Regulatory News (SNRP)

29 Nov 2007 07:02

Strategic Natural Resources PLC29 November 2007 Strategic Natural Resources plc ("SNR" or the "Company"; Ticker: (SNRP)) IPSA has announced fact track Elitheni Clean Coal Power Plant Development ------------------------------------------------------------------------- Strategic Natural Resources PLC ("SNR") announces that it has been informed bythe directors of IPSA Group PLC ("IPSA"), the developer of independent powerplants in southern Africa, that it is to accelerate the development of a CleanCoal-fired power plant at Indwe in the Eastern Cape of South Africa with a viewto the early generation of 250 MW of the plant's proposed 500 MW power capacity. IPSA is to oversee the development of the Clean Coal-fired power plant whichwill involve combining high pressure steam turbines with fluidised bedcombustion boilers. The plant is eventually proposed to have no less than 500 MWof power capacity. SNR has completed an initial drilling programme which, together with historicaldata, has satisfied IPSA that SNR's commercially exploitable coal reservesjustify a mine mouth plant of no less than 500 MW. Under its accelerated development plan for the plant and the generation of thefirst 250 MW, IPSA is looking to acquire existing equipment for conversion tomeet the precise coal specifications of the coal to be mined at the proposedElitheni Coal Mine. IPSA is working now in partnership with Exodus Africa LLC, aHouston based energy group led by former executives of Enron. Jeremy Metcalfe SNR's Chief Executive said "This accelerated developmentprogramme proposed by IPSA is welcome news as it should bring forward ourprojected cash flows." For further info contact:Jeremy P. MetcalfeChief ExecutiveStrategic Natural Resources plcTel: +44 1303 874 798 Allan PiperFirst City Financial Public RelationsTel: +44 20 7242 2666 Rod Venables / Cecil JordaanHB CorporateTel: +44 20 7510 8600 This information is provided by RNS The company news service from the London Stock Exchange