JSE-listed coal miner Keaton Energy has temporarily withdrawn its Mpumalanga-based Sterkfontein coal reserve estimate for 2013 and 2014.
The estimate was originally based on the results of an independent Concept Study conducted for the project. A pre-feasibility study however has not been concluded since, as required by the SAMREC code.
As such, Sterkfontein’s coal reserve estimate has been withdrawn until such time as the concept study is upgraded to a minimum of pre-feasibility study.
The Sterkfontein estimate remains unaffected as published in the Competent Person’s Report compiled for the two transactions announced in July and September 2015 and which has been approved by the JSE Reader’s Panel.
Sterkfontein is planned to be an underground mine, washing 220 tph of product – both for the export market and for Eskom. It has 23.6 Mt in reserve and another 90.8 Mt in resource. Its life expectancy is 15 years. Keaton Energy has a prospecting right only for the project at present.