JOHANNESBURG (miningweekly.com) – Dubai-based Centaur Group, which has completed the acquisition of two South African coal prospecting rights near Ermelo, is preparing to develop them into the global investment holding company’s largest single asset.
The proposed Mpumalanga-based De Roodepoort mining project, which would become the largest project in a $500-million portfolio, held over 100-million tonnes of high-quality coal.
“This is a key project for Centaur and demonstrates ambition and the increasing size and scale of assets we are managing and attracting,” CEO Daniel McGowan said in a statement on Wednesday.
With stage 1 and 2 exploration drilling completed, Centaur was working to convert the prospecting rights into mining rights, with the aim of starting the mining phase of the project in January 2017.
The 3 258 ha De Roodepoort was expected to require over 350 full-time employees once in production, the bulk of whom would be sourced from local communities.
The new-order mining right, integrated water-use licence and environmental authorisation applications were due imminently.