{"id":12317,"date":"2022-01-18T16:58:05","date_gmt":"2022-01-18T16:58:05","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/?p=12317"},"modified":"2022-01-18T15:05:15","modified_gmt":"2022-01-18T15:05:15","slug":"ncondezi-energy-is-awaiting-clarity-on-chinas-financing-position-shares-fall","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/ncondezi-energy-is-awaiting-clarity-on-chinas-financing-position-shares-fall","title":{"rendered":"Ncondezi Energy is awaiting clarity on China\u2019s financing position; shares fall"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>Shares in Ncondezi Energy Ltd. fell 15% on Monday after the company said that it is awaiting further clarity on China\u2019s position relating to financing coal projects abroad before progressing with the Tete, Mozambique power project tariff.<\/p>\n

The African power-development company said the availability of Chinese financing for coal-power projects abroad is critical for the project and that it is ready to proceed with the tariff once this has been addressed.<\/p>\n

\u201cWe understand this to be a global issue affecting all Chinese backed coal power development projects abroad, and that this impact is under review by the relevant Chinese authorities,\u201d the company said.<\/p>\n

Ncondezi added that its partner, China Machinery Engineering Corp., remains committed to the project and continues to lead the financing process.<\/p>\n

In the meantime, the company said it has started a cash-conservation strategy to extend its working capital past the first half of this year so that it doesn\u2019t need to raise extra funds in the immediate future.<\/p>\n

Shares at 1335 GMT were down 0.12 pence at 0.73 pence.<\/p>\n

By<\/b><\/p>\n

Ian Walker<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. Shares in Ncondezi Energy Ltd. fell 15% on Monday after the company said that it is awaiting further clarity on China\u2019s position relating to financing coal projects abroad before progressing with the Tete, Mozambique power project tariff. The African power-development company said the availability of Chinese financing for coal-power projects abroad is […]<\/p>\n","protected":false},"author":84,"featured_media":12316,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,281,283],"class_list":["post-12317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nNcondezi Energy is awaiting clarity on China\u2019s financing position; shares fall - Mozambique<\/title>\n<meta name=\"description\" content=\"Shares in Ncondezi Energy Ltd. fell 15% on Monday after the company said that it is awaiting further clarity on China\u2019s ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/ncondezi-energy-is-awaiting-clarity-on-chinas-financing-position-shares-fall\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ncondezi Energy is awaiting clarity on China\u2019s financing position; 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