Tanzania: MOU signed
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Under the agreement, Linc will develop a 400 megawatt UCG-to-power operation in Tanzania.
The company said it was hoping to tap into the electricity-starved Tanzanian market as demand grows and supply fails to perform.
Linc will now carry out a programme of coal exploration and power plant development, which would see the project up and running by late 2017.
The National Development Corporation of Tanzania, which will be working with Linc and Olympic Exploration, has agreed to help the project move forward with permits and approvals.
It will also work on securing land access, utilities and the development of a long-term power purchase agreement.
Olympic has the access to coal resources required for the project.
Details of the joint venture agreement will be negotiated over the coming months so as to move forward the project.
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