Coal of Africa ups resource

AUSTRALIA-listed African coal miner Coal of Africa upped its Vele project coal resources from 441 million tonnes to 721Mt today.
Coal of Africa ups resource Coal of Africa ups resource Coal of Africa ups resource Coal of Africa ups resource Coal of Africa ups resource

Courtesy Coal of Africa.

Vivienne Ryan

Dow Jones Newswires reported the resource upgrade came as Coal of Africa neared completion of due diligence on a proposed partnership with Rio Tinto.

In July, Coal of Africa and Rio Tinto agreed to swap some coal farms in the Makhado coking coal project and contribute certain farms to a joint venture operation.

The Vele coking coal project is expected to produce 5Mt per annum at a mining cost of $US54 per saleable tonne.

Earlier this year the miner announced a resource upgrade for its Makhado (formerly Baobab) coking coal project in the Limpopo Province of South Africa.

The new measured, indicated and inferred resource estimate is 1.335 billion in-situ tonnes, up from 713Mt.

Coal of Africa also released a production schedule for its Makhado project.

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