Johannesburg, South Africa — MININGREVIEW.COM — 13 August 2008 – South African mineral exploration company Miranda Minerals Holding Limited has announced that its subsidiary, Keldoron Properties 22 (Pty) Limited, has been awarded a tender to prospect for and develop four coal prospecting rights currently held by the Amajuba district municipality (ADM).
Miranda holds a 70% stake in Keldoron, through its KwaZulu-Natal-based subsidiary Miranda Coal (Pty) Limited, with the remaining 30% held by Miranda’s BEE partner, Nelesco (Pty) Limited. A Miranda news release issued here said that in terms of the agreement with Keldoron and Nelesco, Miranda would provide the required financial and technical support to Keldoron, and Nelesco would offer the necessary expertise for the socio-economic developmental aspects of the project.
It added that Keldoron would commence a full scale drilling programme to confirm both the historical information and the coal qualities of the project.
The Amajuba Project permits consist of five farms of about 3 700 hectares in size situated adjacent to the Miranda’s existing Yarl and Learydale projects. Yarl recently reported a competent person’s report of a total inferred resource of 16 931 Mt of coal.
Located in the north-western corner of KwaZulu-Natal, the ADM identified coal mining as an activity to stimulate socio-economic growth in the area. It consequently applied for and was granted four new order prospecting licences by the Department of Minerals and Energy (DME).
In June 2008, the ADM invited companies with the necessary skills and experience to develop these projects into mining operations to tender for the four prospects, and it has undertaken to facilitate the Section 11 transfer of the prospecting rights to Keldoron.
Miranda Minerals CEO Ron Nel commented: “The award of this highly prospective tender contributes significant coal reserves to the group. The Amajuba project will allow us to continue to create a significant critical mass in the area for the establishment of future mining operations”