KEH - Keaton Energy Holdings Limited - Keaton Energy resolves land access Release Date: 04/05/2010 14:25:01 Code(s): KEH
KEH - Keaton Energy Holdings Limited - Keaton Energy resolves land access
dispute: First coal production expected before year end
Keaton Energy Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2006/011090/06)
JSE share code: KEH ISIN: ZAE000117420
("Keaton Energy" or "the company")
KEATON ENERGY RESOLVES LAND ACCESS DISPUTE: FIRST COAL PRODUCTION EXPECTED
BEFORE YEAR END
Keaton Energy announced today that its 74%-held subsidiary, Keaton Mining (Pty)
Limited (Keaton Mining), had reached an amicable settlement with local
landowners, in terms of which Keaton Mining will acquire four properties
totaling 850 hectares relating to its Vanggatfontein project, in the Delmas
district of Mpumalanga.
Keaton Energy had previously announced, on 08 April 2010, that it was taking
legal action to get access to the properties.
The Keaton Energy board approved the development of the project in November
2009, and off-site fabrication of the 100 ton per hour coal processing plant
began in January 2010.
Keaton Energy Managing Director Paul Miller said: "We are delighted that we are
now in a position to rapidly advance the Vanggatfontein project as we have
secured immediate access to the site, with bulk earthworks to begin shortly,
followed by a 4-month plant construction period. The first No 5 Seam
metallurgical coal is expected to be produced well before year-end."
04 May 2010
Date: 04/05/2010 14:25:01 Supplied by www.sharenet.co.za
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