Waterberg Coal, Eskom discussions continue
JOHANNESBURG (miningweekly.com) – Dual-listed coal miner Waterberg Coal has reiterated that discussions are continuing with State-owned power utility Eskom to resolve outstanding requirements to advance a coal supply agreement.
These outstanding requirements included coal specification finalisation, final pricing, delivery dates and the provision to Eskom of a satisfactory due diligence report on the definitive feasibility study (DFS).
Waterberg aimed to resolve all outstanding requirements this year.
Meanwhile, the company noted that the extension of its Standard Bank South Africa convertible secured facility remained on an on-demand basis.
“The revised balance of the facility in February, including accumulated interest, is about A$42.5-million,” the company said in a statement.
The company noted that it had received a draft version of the DFS study conducted by the Ardbel joint venture.
“With this draft of a standalone export project on hand; the Waterberg coal project partners are advancing discussions with certain banks and funding agencies with respect to funding requirements for the proposed development,” the company said.
The export project anticipated the build up to four-million tonnes a year in saleable product over a six-year period, with first coal product forecast for the third quarter of next year.
Additional work has also been carried out, including logistics, coal product offtake arrangements, water and mine planning.
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