London, England — 21 May 2012 – It has been a year of transformation for AIM-listed Beacon Hill Resources plc, seeing the group grow into a significant Mozambican coal producer, developer and exporter operating in one of the world’s most exciting developing coking coal regions.
“During the last 12 months we have delivered on numerous key operational objectives at our primary asset “’ the Minas Moatize coal project in the Tete province of Mozambique “’ resulting in Beacon Hill starting its ramp-up of operations targeting production of 4Mpta ROM coal,” the company said in its results statement issued here.
“These achievements included the commencement of coking coal production and the publication of a definitive feasibility study which confirmed the highly attractive economic fundamentals of the project.
“Most importantly, our focus on logistics has culminated in developing an end-to-end logistics solution which was demonstrated in our first export shipment of thermal coal from Beira in December 2011. The company also plans to ship its first load of coking coal from Moatize to Indian company Global Coke in the middle of this year,” its statement added. “It intends exporting 100,000 tons of coking coal, to be carried to the port of Beira by road, this year.”
“Beacon Hill has also recently commenced exploration at the Changara coal project, which has a licence area 70 times the size of Minas Moatize and offers the potential for significant upside to our overall resource,” the statement continues.
“Our trucking operation continues to operate effectively allowing coal to be transported to port for shipment. It will allow the transport of up to 0.5Mtpa to the port for future shipments, which is more than sufficient for our planned production over the next 18 months. We intend to continue to use this trucking solution pending the commencement of the transportation of coal via the Sena Rail Line, which remains our longer term preferred transportation solution due to both cost and capacity.
"The refurbishment of the Sena rail line to an initial capacity of 6.5Mtpa is ongoing with works still anticipated to be completed in 2012. Following completion of these works, we remain confident of attaining an allocation to the line later in 2012, which will allow us to further ramp up coal production.
Source: Beacon Hill Resources. For more information, click here.