CIA Clean Invest Africa Plc

 
TIDMCIA 
 
26 April 2022 
 
                            Clean Invest Africa Plc 
 
                           ("CIA" or the "Company") 
 
              CIA advances its commercial opportunity in Colombia 
 
The Company is pleased to advise shareholders of the completion of the trial 
and testing phase of its thermal coal commercial project in Colombia. 
 
Trial production pellets made from coal fine samples received from a coal mine 
in Colombia, have now been sent by the Company and received by the client in 
Colombia. This step follows the Colombian mine having shipped coal fine waste 
to the Company production plant at Bulpan in South Africa, where the full batch 
was pelletised by the Company and the pellets then shipped back to the mine in 
Columbia, a process that has taken a number of months in terms of labour and 
resources. 
 
The arrival in Colombia of the completed sample produced to the client 
specification is to be followed up now by further commercial negotiations. 
These negotiations are based on a financial model for a 5,000 tonnes per month 
on site thermal coal plant, which model has previously been submitted to our 
Colombian partner for review. An off-take agreement for the 5,000 tonnes per 
month output is under discussion as part of the negotiations and these 
commercial discussions are expected to be finalised in about 8 weeks. 
 
It is worth noting that coal is much in demand. Recent research by Rystad 
Energy states "coal prices are soaring, hitting US$462/t on 10 March 2022, up 
from US$186/t on 23 February 2022 and likely to pass US$500/t this year." 
 
Further announcements will be made in due course 
 
The Directors of the Company accept responsibility for the content of this 
announcement. 
 
ENQUIRIES : 
 
Clean Invest Africa plc 
 
Filippo Fantechi - Chief Executive Officer:  +973 3 9696273 
 
Peterhouse Capital Limited 
 
Guy Miller: +44 20 7469 0930 
 
 
 
END 
 
 

(END) Dow Jones Newswires

April 26, 2022 02:00 ET (06:00 GMT)

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