The project team’s in-house experience has been strengthened by the secondment of resources from SMEC Consulting Engineers (Project Management) and PwC (Finance).
Land rights have been secured, the water needs have been sourced from the water effluent of the Siyathemba Local Municipality, and the project licensing and permits are progressing according to schedule.
On the project technical front, the project team is engaged in the review and benchmarking of technologies, suppliers, designs, and project capital expenditure. The funding structure and arrangement have commenced and the due diligence pack has been shared with stakeholders, the DFIs and major European financiers and banks. As a major milestone, the South African DFIs completed their due diligence processes and a positive outcome is expected soon.
Ongoing negotiations with potential global off-takers for the plant’s full production is underway, and we have full confidence that the marketing letter of intent can now be converted into fully-fledged supply agreements.