said April11 that the Department of Mines in Botswana has accepted the application for a coalmining license submitted by FirstQuantum Minerals Ltd. on behalf of the Sese joint venture project.

The applicationcovers 51 square kilometers and contains enough coal to fuel multiple 300-MW powerstations for more than 35 years.

It also containsenough land outside the boundary of the coal resource for the placement of multiplepower stations and all necessary supporting infrastructures.

The applicationwas supported by a definitive feasibility study for an initial 1.6 million-tonne-per-annumcoal mine and an approved Environmental Impact Assessment and Environmental ManagementPlan, a 300-MW power station and the associated grid connection infrastructure.

The areal extentof the mining license may be increased at any time by written submission to theminister if a larger project with increased mining volumes is warranted.

A submissionfor generation and export license will be made in due course.

In late 2015,a land lease agreement was signed providing guaranteed surface rights over the Seseproject area for 50 years.

The projectwill be fully permitted once the mining license and the generation and export license are approved.