Key Investment Highlights
· Electricity prices have already risen sharply since 2007 and the trend is set to continue.
· Africary has purchased 600 ha of strategically placed farms to allow unhindered access to the project. These farms have a total inferred coal reserve of more than 26 million ton – enough coal to operate 600 MW for a decade, but also allows for access to the 974 million tons surrounding the farms.
· Africary has self-funded the project development up to Bankable Feasibility, including the acquisitions of the coal exploration rights.
· Nedbank (http://www.nedbank.co.za/) has agreed to become the Project Financier and MLA.
· Africary has signed EPC and Operating and Maintenance (O&M) agreements with Group Five (http://www.groupfive.co.za/) who will provide significant expertise to construct, maintain and operate various aspects of the production plant.
· The Theunissen Coal Field has more than 1 billion ton of coal in-situ and is ideal for UCG due to the fact that most reserves are more than 350m deep and therefore provide ample hydrostatic pressure for safe and economic operation.
· Africary has available UCG experts, Directional Drilling support and Process Engineering consultants who finalized the UCG design for a 50 MW (62 MW gross) project.
Opening Plenary speaker on UCG Implementation at the 6th International Freiberg Conference on IGCC & XtL Technologies