Mashala mulls R500m Mpumalanga coal project
JOHANNESBURG (miningweekly.com) – Coal mining junior Mashala Resources, part of the Continental Coal group, is expecting to spend over R500-million to develop its new De Wittekrans underground coal project near Ermelo, Mpumalanga.
Continental Coal COO Johan Heystek tells Mining Weekly Online that although no capital had been approved for the project, the company was beginning to study its funding options.
The company also weighing whether to build an additional washing plant or use the existing plant, which is currently beneficiating the coal at its Penambra operation.
“The bankable feasibility studies for De Wittekrans will be completed by the end of June. Development will commence during the second half of the year with full ramp-up expected by mid-2012,” says Heystek.
This will add significant value to the company that already exports more than 50 000 t/m through the Richards Bay Coal Terminal.
Initial resource estimates put De Wittekrans project 206-million tons with a life of mine of 30 years.
Heystek points out that in addition to this resource estimate, the company has three other resources lying adjacent to De Wittekrans that will add a further 367-million tons to the resource.
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