Article: South Africa: Sentula, partner to develop R820m(usd 76.2mn) coal project at Koornfontein.

Byline: Mamta03

JSE-listed coal producer Sentula Mining and its joint-venture (JV) partner Siyanda Resources would spend R820-million(usd 76.2mn) on a new development at the Koornfontein mine, CEO Robin Berry said on Wednesday.

The company would seek raise between R150-million(usd 14mn) and R250-million(usd 23.2mn) to fund the development of the four seam at the Mpumalanga-based Koornfontein, in which it held a 49% stake.

An independent valuation and feasibility study of the Koornfontein mine, previously owned by diversified giant BHP Billiton, was completed, and increased the life-of-mine from two years, to 15 years, through the recognition of ...

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