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African Energy Resources Limited

African Energy Resources Ldt is focused on the development of multiple integrated power projects in Botswana to meet the increasing demand for power in the southern African region including the Sese coal project.

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African Energy is an ASX listed company developing base-load power projects in Botswana.These projects will sell power to off-takers in the Southern African Power Pool, all of whose members are experiencing long-term, large scale deficits in their power generation.The Company has access to some of the best power station fuel in a safe investment jurisdiction.

African Energy Resources Limited ("African Energy", ASX: AFR) listed on the ASX in April 2007. After an initial focus on uranium in Zambia, in May 2010 the Company discovered extensive near-surface coal at Sese, near Francistown in Botswana. After establishing a substantial coal resource, a Concept Study indicated the potential for both mine-mouth power generation and coal exports. In early 2015 First Quantum Minerals invested in the Sese project to take a controlling interest and the role of project manager. Sese remains the Company's flagship and most advanced project, but the acquisition of two further coal to power projects in Botswana provides additional near-term development opportunities for the Company.

Every country in the Southern African Development Community (SADC) is chronically short of reliable, affordable base-load power.

Power blackouts in many of the countries, especially South Africa, are adversely affecting business and industry and causing major inconvenience to domestic users.Some countries, such as Zambia and Botswana, are currently reliant on expensive diesel-fuelled generation as part of their base-load, in some cases importing diesel generated power at up to 18c per kWh.

AFR’s Botswana power generation projects are centrally located in relation to the South African Power Pool (SAPP) transmission grid and in close proximity to grid connection. All of AFR’s projects are located adjacent to the north-south railway line and are easily accessed by road.

Botswana is one of Africa's most stable countries, with one of the longest runningmulti-party democratic systems on the continent.The overall security situation is much more positive than in most other states and the low operational risk is reflected in the country achieving one of the world’s highest economic growth rates since its independence in 1966.Botswana is ranked number one in Africa on Transparency International’s anticorruption index and number four on the World Bank/IMF Doing Business report...

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