PERTH (miningweekly.com) – South African junior coal explorer Continental Coal, listed in Australia, has appointed Lodewyk Turvey as its CEO.

Turvey has more than 25 years experience in the South African coal mining industry, and has held roles with diversified miner BHP Billiton, Energy Coal, Ingwe, and Koornfontein Mines.

Meanwhile, Continental has reported that the due diligence of its funding agreements and offtake agreements with EDF Trading have progressed well, and would be completed within the next two weeks.

The company signed a $40-million funding agreement with EDF Trading, as well as an additional $27-million funding agreement with a South African consortium, in April.

The first drawdown of funds under these agreements would take place by the end of May, Continental said.

The financing agreements would allow the company to fund the outstanding acquisition costs and meet the development costs of its Vaalbank, project X and Vlakplaats coal mines, in South Africa.

Meanwhile, mining activities at the Vlakvarkfontein coal mine is progressing well, and the company expects to start coal sales later this month.

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