With the improved market conditions, the Company is looking to bring the “Central opencast” area of Ntendeka colliery into production selling run of mine (ROM) coal initially.
The Company is in the process of finalising its preferred mining contractor. Once this has been completed, a final decision will be made by the Board on the start‐up of mining operations. In line with this we expect to appoint the mining contractor and start implementing the capital expenditure plan to start run‐of‐mine. Mining operations are targeted for commencement in the first quarter of calendar year 2017. In parallel, the Company will conclude discussions with identified potential off takers for the product.
Ikwezi has had the plant and mine built with all licenses for a couple of years - They just sat on their hands whilst the coal price sunk and are now primed to capitalise on any improved prices. they have spent 30mil getting to where they are.... great time to enter and 0 debt.
With the improved market conditions, the Company is looking to...
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