Shumba Energy Partners with Basil Read Mining

The Board of Directors of Shumba Energy Ltd (“Shumba Energy” or the “Company”) is pleased to announce the execution of a binding Memorandum of Understanding (the “MoU”) between Shumba Energy and Basil Read Mining (“BRM”). Basil Read Mining is part of the Johannesburg Stock Exchange listed Basil Read Holdings Limited Group (“BRH”), a leading construction and surface mining company in Southern Africa. BRH is an integrated service provider with a proven track-record and advanced expertise in construction, roads, developments and contract mining.

Shumba Energy has partnered on technical mining operations specifically with Basil Read Mining to provide contract mining solutions for Shumba Energy’s coal projects in Botswana. BRM specialises in surface contract open pit and opencast mining, which includes drill, blast, load, haul and dump, material handling, in-pit water management, mobile plant maintenance and management services to the mining, quarrying and construction industries. In addition, BRM will assist Shumba Energy by providing inputs for mine design, scheduling and mine planning, infrastructure development, operations and project management, surveying and optimization services across Sub-Saharan Africa.

Alan Clegg, Chairman of Shumba Energy, commented, “It has been our clear stated intent to select a few strategic operational partners to support our operational business model of using specialised outsourced services to execute our projects. I am very pleased with the foundational nature of this MoU which is the first building block of what we hope will be a long-term relationship with the Basil Read Group. This MoU is significant as it demonstrates the promised tactical execution of our plans presented to shareholders and entry by Shumba Energy into a new phase of preparation for execution and ultimately start-up of its formal mining operations for thermal coal production and market entry. This is designed to ensure earliest possible revenue streaming from our developed thermal coal assets in Botswana to cover the companies baseline overhead operating costs without further significant capital raising just for this purpose and to move actively towards having the ability to fund required equity for further development of its projects.”

ABOUT SHUMBA ENERGY

Shumba Energy is an energy development company based in Botswana and listed on the Botswana Stock Exchange (BSE:SHUMBA) and the Stock Exchange of Mauritius (SEM:SHCL). Shumba Energy has over the last couple years progressed from an exploration company to a development company and sits on over 4.5 billion tonnes of thermal coal in-situ. As a major industry player, Shumba Energy’s mission is to satisfy the growing energy demand in the SADC region as a result of chronic power shortages. For Shumba Energy “Powering the Future” means addressing chronic power shortages head- on and supplying energy to affected southern African countries in a sustainable and cost-effective

manner. Established in 2011, Shumba Energy now owns a significant portion of advanced energy projects in Botswana and is uniquely positioned with its strategy to develop energy projects that are unaffected by the volatility of global commodity prices.

Enquiries:

Gabriella von Ille – gabriella@lifacommunications.com – +27(0)71 112 1907

Boipelo Mogamisi – boipelo@lifacommunications.com – +27(0)71 799 9507

By order of the Board

International Financial Services Limited

Company Secretary

15 June 2017

This Communiqué is issued pursuant to Section 87 of the Securities Act 2005, Rule 5 of the Securities (Disclosure Obligation of Reporting Issuers) Rules 2007 and DEM Rule 21.

The Board of Directors of the Company accepts full responsibility for the accuracy of the information contained in this Communiqué.

Download article

2 Comments
  1. eliotest 8 months ago

    Hi Everybody
    Thanks for checking out my about page. My name is Eliot Estes.
    I have worked several years in this niche. My aptitude for writing started at a young age. I wrote short stories as a child and eventually went on to work with my school newspaper.
    This early tryst into journalism eventually led me to academic writing. There is plenty of work for qualified writers. I specialize in dissertations , but have the skills to do all types of academic writing.
    Email me for more information about rates and a price quote. I’m looking forward to helping you.

    Academic Writer – Eliot Estes – Hesperialovesbooks Corp

  2. CharlesZef 5 months ago

    hOur company offers herb-based healthcare products. Take a look at our health contributing portal in case you want to look healthier. Our company provides non prescription products. Look at our health contributing portal in case you want to look better. Our company offers herb-based pharmacy. Look at our health contributing site in case you want to look healthier. Our company offers a wide variety of general health products. Look at our health contributing site in case you want to feel better. Our company offers a wide variety of non prescription products. Visit our health portal in case you want to look better with a help generic supplements. Our company provides a wide variety of non prescription products. Look at our health portal in case you want to look healthier with a help health products.
    Our company offers a wide variety of non prescription drugs. Look at our health portal in case you want to to improve your health with a help generic supplements. Our company offers herbal general health products. Visit our health contributing portal in case you want to strengthen your health. Our company offers a wide variety of weight loss products. Look at our health contributing site in case you want to look better. Our site offers a wide variety of non prescription drugs. Look at our health portal in case you want to strengthen your health with a help generic supplements. Our company offers a wide variety of non prescription drugs. Look at our health portal in case you want to look better with a help of health products.

Leave a reply

Your email address will not be published.

©2019 Shumba Energy. All Rights Reserved. webdev' • graphicedge.co.za

Log in with your credentials

Forgot your details?