CoAL updates the market on mineral resources, ore reserves
JOHANNESBURG (miningweekly.com) – As part of its proposed acquisition of fellow miner Universal Coal, dual-listed Coal of Africa Limited (CoAL) has updated the mineral resources and ore reserves for its material projects – the Makhado project, the Vele colliery and the Greater Soutpansberg Project (GSP).
The mineral resources and ore reserves for the projects have been updated from the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, 2004 Edition to being in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, 2012 Edition.
CoAL’s flagship Makhado project had a measured, indicated and inferred mineral resource of 796-million tonnes and a probable ore reserve estimate of 188-million tonnes.
The Vele colliery had a measured, indicated and inferred mineral resource of 794-million tonnes, a proven ore reserve estimate of 24-million tonnes and probable ore reserve estimate of 301-million tonnes.
GSP had a measured, indicated and inferred mineral resource of 7.16-billion tonnes.
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