Johannesburg, South Africa — 11 April 2012-04-11 – Keaton Energy Holdings Limited “’ a coal resource explorer and mine developer “’ reports substantial across-the-board production increases from its South African operations in the financial year ended 31 March 2012.
In a production update released here, the company reveals that it’s Vanggatfontein Colliery in Mpumalanga province delivered 955 376t of washed 4- and 2-seam thermal coal to power utility Eskom between June 2011 and the end of the reporting period, and continues ramp-up towards its targeted 175,000t per month.
Production of 5-Seam metallurgical coal for the domestic market from Vanggatfontein increased by 146% to 140,241t from the previous year’s 56 886t.
Vaalkrantz Colliery in Kwazulu-Natal province “’ over which Keaton Energy gained effective control on 14 December 2011 “’ dispatched 375,950t of anthracite to domestic and export customers in the 12-month period to 31 March 2012 “’ a 76% increase over the previous year’s 213,503t.
Vaalkrantz’s exports of anthracite increased by 83% to 168,685t compared with 91,875t in the 12-month period to 31 March 2011, while supply to the domestic market rose by 70% to 207,298t compared with 121,627t compared with the previous year.
“Now, with two operating collieries within the group, we have a great base from which to grow to reach our 5Mtpa target,” says managing director Paul Miller.
“Our priorities now are to develop the Braakfontein export thermal coal project, near Newcastle in Kwazulu-Natal, and to take the Sterkfontein project in Mpumalanga further up the value curve.”
Source: Keaton Energy. For more information, click here.