https://www.miningweekly.com

CoAL updates Uitkomst reserves

26th September 2017

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – South Africa-focused Coal of Africa Limited (CoAL) has reported resources and reserves of 26.9-million-tons at its recently acquired Uitkomst Colliery.

The company also said on Tuesday that it would apply to have the project’s new order mining right extended from October 2023 to align with the colliery’s remaining 17-year mine life.

CoAL acquired a 91% stake in the Uitkomst Colliery in a R275-million deal with South Africa’s Pan African Resources earlier this year, with the mine producing an average 45 000 t/m of run-of-mine coal from two underground sections.

CoAL CEO David Brown said that the addition of Uitkomst to the company’s portfolio was a critical requirement for CoAL at the current stage of its life cycle, as it provided the company with a cash generating asset that would assist in the funding of the business while the Makhado project was being developed.

“The high-grade metallurgical coal products sold by the Uitkomst Colliery facilitate access to these markets, providing further insight while the hard coking coal marketing strategy for the Makhado project is being finalised,” Brown added.

Edited by Creamer Media Reporter

Comments

Showroom

WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 
John Thompson
John Thompson

John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.147 0.181s - 88pq - 2rq
Subscribe Now