$23 for Eskom is for 20Mj/kg and long term contract, not for 27.5Mj/kg export quality coal.
Ikw can sell 100% to export market. Demestic market for this quality maybe around Zar630-700 (more than $70). They may sell 40% to domestic if profit is good enough.
They only need around $12 mil to bring it to production.
ikwezi mining on the road to coal production, page-15
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