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The South African focused company has commenced drilling at the Mooiplaats site, in the Ermelo Coalfield, with an inferred resource of 240 million tonnes established over the two main coal seams.
The resource is mainly thermal coal and the company is now hoping to finalise drilling and begin mine planning with a focus on starting production in the third quarter of 2008.
GVM's 70% takeover of Coal of Africa is pending ministerial approval but is expected to be decided shortly.
Its other project, Holfontein in the Witbank Coalfield, is also expected to ramp up production in the third quarter of 2008, with a measured resource estimate of 400,000t per annum of soft coking coal and 800,000tpa of unwashed thermal coal over a 20-year period, pending approvals from the Department of Minerals and Energy.
