FOR IMMEDIATE RELEASE
Monday, October 8, 2012
Johannesburg, South Africa, Harare, Zimbabwe, Vienna, Austria, Tokyo, Japan – October 8, 2012 – African Compass International Limited (“ACI” or the “Company”), today announed it has sent a Letter of Intent (LOI) to the Republic of Namibia’s Director of Mines and Energy. The LOI is based on conducting a feasibility study for establishing a ultra-modern 200,000 bpd refinery in the country. This project will be implemented by ACI and its international partners with financial and technical expertise.
The LOI follows from a meeting at the Vienna International Centre (VIC), Austria at the sidelines of the 56th IAEA General Conference between ACI’s International Representative and the Namibian Mining Commissioner, The Honourable Erasmus I. Shivolo and Deputy Director of Controlled Minerals and Mineral Development, Ms. Helena Itamba. ACI also expressed strategic investment interests in other sectors in Namibia during the VIC meeting.
About ACI
African Compass International (“ACI”) is a global diversified private natural resources company in frontier, emerging/established emerging and developed markets. The Group farms, explores, sources, refines and produces, inter alia, agriculture products, base metals, ferrous & non-ferrous metals, minor metals, platinum group metals, precious metals, oil & gas and commercial energy. Our diversified operations in Africa, South America and Eurasia are supported by offices in Austria, Canada, Japan and Zimbabwe. ACI always seeks partnerships with all its stakeholders that will add value to projects at hand based on the core values of honesty, integrity and vision.
Supporting Resources: please visit www.africancompassinternational.com; follow @Afrikancompass on Twitter, or join ACI on LinkedIn.
For and on behalf of the Company’s Board of Directors
Julian RUPARE, Jr.
CEO & Chair
GLOSSARY OF TERMS:
The following are the main terms and abbreviations used in this webnews:
ACI African Compass International Limited and/or its subsidiaries, as appropriate
Barrel Equivalent to 42 United States gallons
Bpd Barrels per day
CEO Chief Executive Officer
CLO Chief Legal Officer
Company African Compass International or African Compass International Limited
COO Chief Operating Officer
IAEA International Atomic Energy Agency
LOI Letter of Intent
VIC Vienna International Centre
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African Compass International
Johannesburg | Harare | Vienna | Tokyo
Directors J Rupare Jr (CEO) C N Rupare (COO) U Mazunga (CLO)
