SAH - South African Coal Mining Holdings Limited - Prospecting rights granted Release Date: 03/07/2008 07:30:03 Code(s): SAH
SAH - South African Coal Mining Holdings Limited - Prospecting rights granted
South African Coal Mining Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 1994/009012/06
Share code: SAH
("SACMH" or "the company")
PROSPECTING RIGHTS GRANTED FOR KROMKRANS
SACMH is pleased to announce that it has been granted prospecting rights for
Kromkrans, a property situated in Ermelo, Mpumalanga, some 30km north of the
company`s Umlabu mine.
Prospecting rights have been awarded over portions 3, 47, 56 and the remaining
extent of the farm Kromkrans 208 IS, in terms of Section 17 (1) of the Mineral
and Petroleum Resources Development Act 2002 (Act No 28 of 2002). The property
measures 561 hectares and is adjacent to Naudesbank which is owned by BHP
Billiton and where mining is planned to commence before year end.
SACMH has finalised its exploration plans for the Kromkrans property and
exploration is expected to commence later this month. Test drilling results are
anticipated in about three months. Gemecs (Pty) Ltd has been appointed to
develop the geological model.
Securing the prospecting rights is in line with SACMH`s overall strategy to grow
the company`s production and become an efficient coal producer.
Karl Gribnitz, Chief Executive of SACMH, commented:
"Exploration is another leg to our organic growth strategy. The granting of the
prospecting rights over Kromkrans is an important and exciting development,
especially due to its proximity to the Umlabu mine and as SACMH is embarking on
exploration for the first time."
3 July 2008
Sponsor: QuestCo Sponsors
SACMH 011 748 2800
College Hill 011 447 3030
Nandile Ngubentombi 082 825 8004
Date: 03/07/2008 07:30:02 Supplied by www.sharenet.co.za
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