Modern Mining January 2023

MINING News

EAIF commits €25-million to 44 MW hydropower plant in Côte d’Ivoire

Private Infrastructure Development Group (PIDG) company, the Emerging Africa Infrastructure Fund (EAIF), has announced a €25 million finance facility to Ivoire Hydro Energy (IHE), which will build a 44 MW hydro electricity generation plant on the Bandama River near the village of Singrobo in Côte d’Ivoire. EAIF’s long-term financing package enables IHE to achieve financial close for the project, catalysing the design, construc tion and operation of the power plant and associated infrastructure, and boosting rural access to clean energy. The new plant will be an essential stra tegic economic asset for Côte d’Ivoire, where electrification rates range from 88% in urban areas to as low as 31% in rural parts of the country. By displacing expensive peak-time diesel production and reducing CO₂ emissions by 124 000 tons per annum, the plant is also integral to the government’s efforts to achieve the UN’s Sustainable Development Goals on Climate Action (SDG 13) and on Affordable and Clean Energy (SDG 7). Construction of the plant – as well as 3 km of access roads and a 4 km 90 kV transmission line and substation to connect

the hydropower plant to the existing Taabo Agboville transmission line – will generate over 500 jobs. Paromita Chatterjee, investment director at Ninety One, the fund manager for EAIF, noted: “The new faci l i ty at Singrobo will be Cote d’ Ivoire’s f irst hydro electric development by an independent power producer. We are excited that it delivers on three of PIDG’s strategic objec tives: mobilising private

EAIF invests €25 million to build a 44 MW hydro electricity generation plant.

capital, enabling economic development and contributing to increasing Africa’s stock of renewable energy infrastructure.” The Singrobo plant catalyses the Ivorian government’s strategic plan for the devel opment of the electricity sector, which aims to increase the total installed capacity to 4.2 GW (from around 2.2 GW currently) by 2030 mainly through Public-Private Partnerships, reaffirming EAIF’s role as a pathfinder supporting the development of nascent renewable energy markets. A long term power purchase agreement will see all the energy produced by the Singrobo plant sold to Compagnie Ivoirienne d’Electricité , the operator of Côte d’Ivoire’s national grid. In addition to closing the rural energy access gap and strengthening economic productivity, the plant’s flexible operating model enhances grid resilience, meaning it may be called in to meet baseload and peak demand.  Caledonia completes acquisition of Bilboes gold project in Zimbabwe

AIM-listed Caledonia Mining Corporation has completed the acquisition of Bilboes Gold, the parent company that owns, through its Zimbabwe subsidiary, Bilboes Holdings, the Bilboes gold project in

Zimbabwe. The project is a large, high grade gold deposit located about 75 km north of Bulawayo, Zimbabwe. Bilboes gold has NI43-101 compliant proven and probable mineral reserves of 1.96 million

ounces of gold in 26.64 million tonnes at a grade of 2.29 g/t, measured and indicated mineral resources of 2.56 million ounces of gold in 35.18 million tonnes at a grade of 2.26 g/t, and inferred mineral resources of 577 000 ounces of gold in 9.48 million tonnes at a grade of 1.89 g/t. A feasibility study prepared by the vendors (the DRA Feasibility Study) indicates the potential for an open-pit gold mine producing an aver age of 168 000 ounces per year over a 10-year life of mine. 

AfriTin Mining rebrands to Andrada Mining AIM-listed AfriTin Mining, an African technology metals mining com pany with a portfolio of mining and exploration assets in Namibia, has confirmed its name change from AfriTin Mining to Andrada Mining. The change of name took effect on 11 January 2023. The name Andrada reflects the company’s expanding lithium and tantalum resources alongside its existing tin production. It originates from José Bonifácio de Andrada e Silva , the Brazilian mineralogist and professor who first discovered petalite and spodumene, which are major lithium bearing minerals and a pre cursor to the identification of lithium. The company believes the Uis

Andrada Mining CEO, Anthony Viljoen.

licence could host a globally significant lithium resource. Anthony Viljoen, CEO, commented: “I’m delighted to confirm the company’s change of name and we look forward to rebranding as Andrada Mining. The company’s potential lithium resource size in Namibia is extremely exciting, and the change of name reflects the importance of it within our growing produc tion profile, beyond our existing tin operation. We look to the future with huge excitement as Andrada Mining plays its part in the energy transition.” 

Caledonia finalises acquisition of Bilboes gold.

4  MODERN MINING  January 2023