Sydney, Australia — 26 March 2012 – Resource Generation Limited (Resgen) “’ an Australian-based company dual-listed on the Australian and Johannesburg stock exchanges and specialising in the development of major energy-related resources “’ has received approval from the Limpopo province authorities in South Africa to construct its proposed Boikarabelo mine.
Resgen is preparing to spend more than US$500 million on launching its first mine in South Africa “’ producing close to 40Mtpa of run of mine coal within five years and supplying the market with around 18 to 20Mtpa of saleable coal at that time.
The approval “’ given by the Limpopo Department of Economic Development, Environment and Tourism (LEDET) “’ enables the company to construct the mine, all the required mine infrastructure and the associated 36km rail link to the existing rail network, said a Resgen announcement released here.
Resgen managing director Paul Jury commented: “We are very pleased to receive our development consent, which is the culmination of 15 months of close liaison and work with LEDET. As a life of mine approval, it clears a major milestone to ensure the long term value that the Boikarabelo mine can provide to all stakeholders and the local community. Once we have received our Integrated Water Use Licence and signed a contract with Transnet Freight Rail, we will be able to proceed to finalise funding for project construction to commence,” he added.
Source: Resource Generation. For further details click here.