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Uitkomst Colliery, 100% owned by CoAL, is a high-grade coal producer of thermal and metallurgical coal. It is situated some 20km northwest of Utrecht and 23km northeast of Newcastle in the KwaZulu-Natal province.
The Makhado Project in the Soutpansberg Coalfield, 36km north of Makhado town and 80km southeast of Vele, Limpopo province, is CoAL's flagship project, and has the potential to deliver significant value to all stakeholders.
The project has been granted a mining right and construction is expected to commence in H2 FY2017. The resource will initially be mined on an opencast basis over 16 years with the potential for expansion underground.
Vele Colliery, a thermal and semi-soft coking CoAL colliery, in the Tuli Coalfield, 48km west of Musina, Limpopo province, remains on care and maintenance until outstanding regulatory approvals are received and coal prices improve.
The model of co-existence between mining, agriculture and heritage developed at Vele Colliery will be implemented at the Makhado Project, and also within the Greater Soutpansberg Projects.
The Greater Soutpansberg Projects, contiguous to the Makhado Project, and situated to the north of the Soutpansberg Mountains in the Limpopo province, comprise of four projects: Mopane, Generaal, Chapudi, and Telema & Gray.
Tshipise Energy Gas Exploration Project, contiguous to the Makhado Project, in the Limpopo province, is a coal bed-methane project which (in the initial phase) involves the establishment of a test well and flaring facility which will afford compliance with the requirements of the internationally accredited United Nations carbon-credit programme and the sale of carbon credits.
The presence of hard coking coal and the size of coal's resources, 2.4 billion tonnes in situ, is a differentiating factor from other coal junior mining companies.
|
Abridged summary of JORC-compliant resources and reserve statement 31 May 2012 |
JORC-compliant resources |
JORC-compliant reserves |
||
| Gross tonnes in situ (Mt) |
Gross tonnes in situ (Mt) |
Minable tonnes in situ (Mt) |
Reserves (Mt) |
|
| Vele | 795.7 | 672.9 | 362.5 | 325.6 |
| Makhado Project | 795.6 | 691.5 | 344.4 | 188.25 |
| Greater Soutpansberg Projects | 7,161.0 | 5,751.5 | 1,660.0 | - |
| Total | 8,752.3 | 7,115.9 | 2,336.9 | 513.85 |
