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Africa-focus Riversdale upgraded its Benga tenement in Mozambique over the quarter to 2.1 billion tonnes. The boosted resource comprises 1.02Bt in the indicated category and 1.08Bt in the inferred category.
The quarter also saw Riversdale lodge its 20 million tonne per annum coal mining study with the Mozambique government. Meanwhile, the mine construction team for the Benga coal project was mobilised.
At the company’s Zululand Anthracite Colliery (ZAC) run of mine coal production was down 6.5% on the June quarter but up 31% from the corresponding 2007 quarter.
Saleable coal production for the September quarter was down 14.5% on June figures to 167,764t, a drop Riversdale blamed on a plant maintenance shutdown.
On the cash front, as at September 30, Riversdale had a net cash balance of $A342.4 million, down slightly from its $345.2 million net balance in June.
The quarter also saw Steve Mallyon take up the reins as Riversdale managing director in August.
