JOHANNESBURG (miningweekly.com) - Australian company Resource Generation (Resgen) plans to list on the JSE on July 14, it announced on Thursday.

Resgen, which is already listed on the ASX, said that the secondary listing would provide it with greater flexibility when raising finance to develop its Boikarabelo and Boikarabelo Extended coal projects in South Africa's Waterberg area.

"Through this listing, Resgen would like to encourage South African investors to invest in the company, which has over 90% of its assets in the country," the company said in a prelisting statement.

Resgen also hoped that the listing on the JSE would assist it with future activities within its black economic-empowerment ventures in the country.

"We believe that the outlook for coal opportunities in South Africa is promising. Traditionally, South Africa has been a major producer and exporter of coal, with most of its coal being sourced from the Witbank coalfields, which are now maturing.

"Assuming that a third major power station is built in the Waterberg, the sales of domestic coal could rise to around 15-million tons a year from 2018/19.

"Expectations are that the future of South African coal developments is in the Waterberg coalfield where Resgen has a significant resource and a large land ownership footprint to facilitate development," the company said in a statement.

Resgen pointed out that the development of its Waterberg projects had progressed through to the lodgement of a mining right application and associated documentation. Mine planning and coal preparation design work were completed and the company was targeting production by early 2013.

"Detailed mine plans and coal washing facilities have been designed to produce three-million tons a year of saleable export coal and three-million tons of saleable domestic coal from 2013," the company concluded.

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