https://www.engineeringnews.co.za

Universal takes bigger stake of Berenice pie

22nd April 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – South Africa-focused coal miner Universal Coal has increased its ownership of the Cygnus portion of the Berenice coking coal project to 50%.

The Berenice project has a total Joint Ore Reserves Committee-compliant resource of 1.35-billion tons, of which some 1.2-billion tons was in the measured and indicated category. Of the total resource, some 675-million tons was now attributable to Universal.

The company said on Monday that it consummated its earn-in agreement for the Cygnus property after completing a second phase of drilling, and providing an updated resource estimate.

The coal miner had the option to increase its stake in Berenice to some 74% by achieving other set milestones.

“We are delighted to have completed the final step of this farm-in agreement to achieve 50% shareholding over the entire Berenice coking coal project,” said CEO Tony Weber.

“The resource upgrade allows the next phase of development for the project to proceed, with a prefeasibility study to start by year-end.”

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ATI Systems
ATI Systems

ATI systems comprises five divisions: electrical assemblies, drives and controls, feedback sensors, enclosures, and strip guiding.

VISIT SHOWROOM 
MBE Minerals SA (Pty) Ltd
MBE Minerals SA (Pty) Ltd

Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.049 0.757s - 140pq - 2rq
Subscribe Now