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"The Boikarabelo field in South Africa's Waterberg region, to the north of the country and close to the border with Botswana, is an outstanding coal asset by any standards . An extensive coal seam, between 120 and 130 metres in depth and containing zones of varying quality thermal and soft coking coal, lies only 20 metres below the surface in terrain that is flat and easy to get at. It is the ideal site for an open pit mine : the shallow overburden means that a small fleet of equipment can produce a lot of coal. Costs will be relatively low , and multiple mining benches will provide the flexibility to extract the coal quality required for a variety of markets, from thermal coal used in power stations in Asia where capacity is confidently expected to continue rising over the coming decade to South Africa itself where there is an insatiable demand.
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Nevertheless, with the international coal market currently more nutty slack than briskly blazing, this is a time when only the most outstanding new projects can attract funding. When we last reported on the Australian and JSE joint listed mining company Resource Generation (ResGen) its focus was on locking down its funding arrangements, and this remains its principal challenge today despite solid progress to date. “We hope to complete our funding by June of this year,” says Managing Director Paul Jury. “We are concentrating on funding the coal handling and preparation plant (CHPP). If we can achieve that we will be able to stick to the development programme and start producing coal at the end of 2015."
article 23rd May 2014
http://www.bus-ex.com/article/resource-generation-resgen-0
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