HomeEnergy MineralsOptimum expects 13.5Mt of coal in FY 2010

Optimum expects 13.5Mt of coal in FY 2010

Optimum Coal’s
Koornfontein mine
Johannesburg, South Africa — MININGREVIEW.COM — 07 May 2010 – Optimum Coal “’ the black owned and controlled coal mining and exploration group “’ estimates that its run-of-mine production for the financial year to 30 June 2010 will be 13.5Mt, which will include an estimated 5.0Mt of export saleable coal and 5.1Mt for sale to Eskom.

A statement issued here said the export saleable forecast for the 12-month period to 30 June 2010 had been revised down by 0.4Mt to 5.0Mt, while the Eskom production forecast of 5.1Mt remained in line with contractual commitments.

Optimum Collieries produced 10 763Mt of run-of-mine coal and a total of 8 004Mt of saleable coal during the 10-month period to April 2010.

“Notwithstanding excellent progress at our Boschmanspoort underground section at Optimum Collieries, the Pullenshope, Kwagga and Eikeboom opencast sections had been adversely affected by the extremely high rainfall experienced recently,” said Optimum Coal CEO Mike Teke. This was the reason behind the downward revision of saleable coal volumes for the 12-month period to June 2010.

Koornfontein Mines produced 2.414Mt of run-of-mine coal and 2.557Mt of saleable coal during the 10-month period to April 2010.

The company’s best estimate of run-of-mine production for Koornfontein during the 12 months to June 2010 is 2.9 Mt of which an estimated 1.74Mt of saleable export coal will be produced and 1.4Mt saleable will be produced for Eskom.

“We are most encouraged with progress at Koornfontein now that we have equity and operational control,” said Teke.