|
|
Article: South Africa: Sentula, partner to develop R820m(usd 76.2mn) coal project at Koornfontein.
- Article from:
- TendersInfo
- Article date:
- November 21, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
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 ...