Madagascar: PPA signed for Imaloto integrated coal power project

Alternative Investment Market-listed Bushveld Minerals Ltd announced on 23 November that its subsidiary Imaloto Power Project Sarl has signed a 30-year power purchase agreement (PPA) with state power utility Jiro sy Rano Malagasy (Jirama) for the construction of the 60MW Imaloto integrated coal power and mining plant. Financial close is anticipated in H1 2018 with commercial operations in 2021. The power plant – owned by Lemur Holdings, a wholly owned subsidiary of Bushveld Minerals – will be located at the mine-mouth of the company’s coal deposit.