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WSL - Wescoal Holdings Limited - Commencement of mining operations at

Release Date: 07/10/2008 13:08:54      Code(s): WSL
WSL - Wescoal Holdings Limited - Commencement of mining operations at           
Schoongezicht Reserve                                                           
WESCOAL HOLDINGS LIMITED                                                        
(Incorporated in the Republic of South Africa)                                  
(Registration number 2005/006913/06)                                            
JSE Share code: WSL   ISIN: ZAE000069639                                        
("Wescoal" or "the company")                                                    
Wescoal shareholders are advised that the company has entered into a joint      
venture agreement with Kubra Mining to mine the Schoongezicht reserve.          
Schoongezicht is an opencast mining operation situated near Witbank and all the 
run of mine ("ROM") will be processed at Wescoal`s Blesboklaagte processing     
plant. The Schoongezicht mining operations will produce approximately 35 000 ROM
tons per month and has an estimated reserve of 350,000 ROM tons, this will      
ensure the Blesboklaagte processing plant has sufficient supplies for the next  
10 months. Additional mining permits have been applied for surrounding areas,   
which should increase the life of mine.                                         
The first ROM has been received and processed in September 2008 and the initial 
results indicate yields and quality in line with expectations. The estimated    
cost saving by getting ROM from Schoongezicht, compared to the current third    
party suppliers, is between R 50 to R 75 per ton. These savings and improved    
yields will only affect Wescoal`s financial results in the second half of the   
current financial year to 31 March 2009.                                        
7 October 2008                                                                  
Designated Adviser                                                              
Exchange Sponsors                                                               
Date: 07/10/2008 13:08:54 Supplied by www.sharenet.co.za                     
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