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JOHANNESBURG (miningweekly.com) – An ELB Engineering Services and DRA Group joint venture (JV), Ardbel, has been given the go-ahead to start the preliminary design and basic engineering works of the Waterberg coal project, ASX- and JSE-listed Firestone Energy said on Friday.
A letter of intent was also entered into between the project owners, the Waterberg Coal joint venture partners (WCJVP), and Ardbel for the development of a coal-handling facility, processing plant and associated civil works for the Limpopo-based project.
Local and international process engineering firms were engaged for the design, manufacture, supply, delivery, assembly, installation and commissioning of the 22-million-tonne-a-year coal-handling and preparation plant in a phased approach within an engineering, procurement and construction framework.
“The formal appointment of Ardbel represents a significant step forward in the commitment by the project partners to the development of the project,” the company said in a statement.
The Waterberg Coal Company (WCC), which is the managing partner of the WCPJV, indicated in a separate statement that a bankable feasibility study for the project has been completed and that the JV was now engaging with the debt and equity markets to secure funding for the project.
“Due diligence for this purpose, currently being undertaken by the Banking Group, is at an advanced stage,” WCC stated.