HomeEnergy MineralsCoAL reports massive lift in coal resources

CoAL reports massive lift in coal resources

Drill team at work
on CoAL’s Makhado
project in the
Johannesburg, South Africa — 14 June 2012 – Emerging developer and producer of thermal and coking coal, Coal of Africa (CoAL), says it has achieved another milestone towards becoming a 10Mtpa coking coal producer in 10 years, after drilling on its Soutpansberg properties revealed a huge increase in in-situ resources.

A company statement released here said gross in-situ resources now stood at nearly 8 billion tonnes from 1.5 billion tonnes reported previously. Miningmx reports that the increase was partly owing to the inclusion of the Chapudi property bought from Rio Tinto and Kwezi Mining recently.

The Soutpansberg assets also include Makhado, a property neighbouring Chapudi. CoAL now divides its consolidated Soutpansberg prospects in three sections: Mopane, Chapudi and Makhado, it said. Mineable tonnes had increased to about 2 billion tonnes from 648Mt.

“With this platform in place, the company is well positioned to achieve its goal of creating a world-class coking coal business, producing in excess of 10Mtpa of saleable coking coal over the next 10 years,” said John Wallington, CEO of CoAL.

Source: Miningmx. For more information, click here.