[miningmx.com] – RIOZIM, a Zimbabwean coal and diamond miner, is hoping to sign power purchase agreements so it can finance a $1.2bn, 1,400MW power station supplied with coal from its Sengwa reserves, said Reuters.
“We do need a power purchase agreement in order that we can attract investors or attract those lenders that can give us debt,” said RioZim CEO, Noah Matimba. He was talking to regional power trading firm Southern African Power Pool and big Zimbabwean electricity users about an agreement to sell them electricity, said Reuters.
“We have signed an MOU with the Southern African Power Pool in the hope that we can begin to discuss a power purchase agreement with them and be able to create the necessary demand to attract investors and to attract debt if we should go that route,” said Matimba.
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