Keaton lifts Vanggatfontein production
JOHANNESBURG (miningweekly.com) – Keaton Energy on Wednesday reported that output from it’s Vanggatfontein colliery during the three- and nine-month period to December 31, had increased 26% and 44% compared with the corresponding periods the year before.
The JSE-listed coal junior delivered 521 078 t of thermal coal to State-owned power utility Eskom during the three months ended December 31, bringing the delivery of coal for the nine months to December to 1.66-million tons – up from the 1.15-million tons reported during the nine months to December 2012.
During the quarter under review, five-seam metallurgical coal sales jumped 66% to 23 747 t over the corresponding period last year, with sales for the nine months reaching 78 901 t, an increase of 73% on the prior period.
While discard and slurry sales fell 27% year-on-year, owing to poor weather impacting on the reclamation process, the sales reported for the nine months to December, at 643 932 t, were 120% higher than those achieved in the prior period.
“Vanggatfontein continues to produce to plan both in terms of production and, importantly, cash generation. With the Xceed transaction due to close in early 2014, we look forward to developing another successful mine adjacent to Vanggatfontein and integrating the two mines into a significant, long-term operation,” Keaton Energy CEO Mandi Glad said in a statement.
The group was expected to conclude its acquisition of ASX-listed Xceed Resources’ Moabsvelden project, located about 3 km from the Vanggatfontein operation, by February 19.
Meanwhile, Glad noted that the replacement capacity projects to replace the geologically challenging Vaalkrantz operation, which was nearing the end of its mine life, were proceeding well.
During the three months to December, sales of anthracite from the colliery to domestic and export customers fell 37% to 61 496 t, with sales for the nine months declining 13% to 215 641 t.
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