Resgen making progress at Boikarabelo mine, extends CEO’s contract
JOHANNESBURG (miningweekly.com) – Dual-listed Resource Generation (Resgen) has made demonstrable progress on material contracts and funding for the rail link at its Boikarabelo coal mine in South Africa’s Waterberg region in the three months to September 30.
The first credit approval for full funding of the link has been obtained from the Development Bank of Southern Africa.
The rail link will be built by RME, a subsidiary of Transnet Freight Rail, under a fixed-price, turnkey engineering, procurement and construction (EPC) contract.
“Progress is also being made regarding the planned 300 MW independent power producer (IPP) [plant]. A provisional equity structure under which the company and Ledjadja Coal, will have direct equity interests is under discussion,” the company said.
A joint development agreement is being drafted by Resgen’s appointed legal counsel and a full technical specification of the IPP is currently being prepared by an independent consulting firm.
It is expected that a selection process to identify and appoint the EPC contractor will begin during the first half of 2018.
During the quarter, the group drew down the final instalment of the working capital facility.
In addition, the group agreed with Noble Resources to extend the commencement of repayment of the amounts borrowed under the facility agreement from September 2017 to April 2018.
The company has also extended CEO Rob Lowe’s contract for a further 12 months.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation