Resgen signs coal offtake agreement with Noble
JOHANNESBURG (miningweekly.com) – Coal miner Resource Generation’s (Resgen’s) Ledjadja Coal Limited (LCL) subsidiary has signed an offtake agreement with energy products company Noble Resources International for the supply of additional uncontracted coal to be produced at the Boikarabelo mine, in South Africa’s Waterberg region.
The uncontracted tonnage offtake agreement builds on earlier offtake and coal marketing agreements between Resgen and Noble.
In March, Resgen also granted Noble the first right of refusal to buy any additional uncontracted coal produced at the mine.
Under the terms of the uncontracted tonnage offtake agreement, LCL will sell and deliver to Noble, for the first three years, a committed quantity of 800 000 t/y of coal, plus a further 300 000 t/y as advised by LCL to Noble on a quarterly basis.
Further, from the fourth year onwards, LCL has agreed to sell and deliver up to 200 000 t/y of coal, as advised by LCL, to Noble on a quarterly basis.
LCL's obligation to sell and deliver the coal under the uncontracted tonnage offtake agreement is subject to LCL having sufficient contracted rail and port capacity to deliver the agreed upon volumes.
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