Wescoal tables Phase 1 desktop study for Elandspruit
JSE-listed coal junior Wescoal last week reported the conclusion of a Phase 1 desktop study on the newly acquired Elandspruit project, outlining the emerging coal mine’s potential output of two-million tons a year over the next 15 years.
Wescoal appointed the Mineral Corporation to under- take the desktop study after the August conclusion of the much-delayed sale of Wescoal’s Vlaklaagte mining right to Xstrata for R81.1-million, while buying out Xstrata’s Elandspruit right for R93.8-million.
The study was intended to investigate a range of conceptual mine development options as a preface to more detailed feasibility work, which would, in turn, lead to the first raw coal production during 2014.
The study determined that there was “sufficient confidence” in the project to proceed to more detailed feasibility studies, with a prospective mining approach that was “relatively straightforward”.
“We are very pleased with the results of the Phase 1 study. This is a major project for Wescoal and it is receiving senior management’s full attention to ensure it is commissioned during 2014,” Wescoal CEO Andre Boje said.
The company is currently pro- gressing the outstanding required environmental authorisations and has started negotiations with surface right owners. Several environmental issues will also require assessment and mitigation to reduce the significance of the potential mining impacts.
“These processes are expected to be completed during the first half of 2014, following which the commissioning of the Elands-pruit mine will commence,” said Boje.
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