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During May other activities at Penumbra included the awarding of civil and building contracts to supply and erect the prefabricated buildings, stores and workshops onsite.
Tenders were closed for the water reticulation system, water treatment plant and main ventilation fan, while the low-voltage ventilation fan substation design and quote was received.
Construction also commenced for the power transformers and containerized medium-voltage substations, both of which are scheduled for completion in June 2012.
Penumbra production is forecast to reach a targeted rate of 750,000 tonnes per annum run of mine coal by the fourth quarter of 2012.
The mine will be the company’s third thermal coal operation in RSA and is forecast to generate annual free cash flow of $US15-20 million.
Continental’s South African portfolio also includes the Vlakvarkfontein and Ferreira coal mines which produce 2 million tonnes per annum of thermal coal for the export and domestic markets.
