RES - Resource Generation Limited - Resource Generation to receive Mining Release Date: 31/03/2011 09:58:01 Code(s): RSG
RES - Resource Generation Limited - Resource Generation to receive Mining
Right for its Boikarabelo mine
Resource Generation Limited
ACN 059 950 337
(Incorporated and registered in Australia)
(Registration number ACN 059 950 337)
Share code on the JSE Limited: RSG ISIN: AU000000RES1
Share code on the Australian Stock Exchange Limited: RES ISIN: AU000000RES1
Resource Generation to receive Mining Right for its Boikarabelo mine
Resource Generation Limited, which is developing one of South Africa`s largest
remaining coal deposits, announced today that its Ledjadja joint venture has
received notification that it has been granted a 30 year Mining Right for its
Boikarabelo mine by the South African Department of Mineral Resources.
Execution of formal documentation and establishment of a $2 million
rehabilitation deposit will be completed over the next three weeks. The
company has a 74% shareholding in the joint venture.
Paul Jury, managing director of Resource Generation, said: `This is a major
step towards the development of the Boikarabelo mine. We expect that the
Mining Right will facilitate our discussions with Eskom regarding coal supply
to its power stations in Mpumalanga and with Transnet regarding transport to
domestic customers and ports.
`We have worked closely and transparently with the Department of Mineral
Resources throughout the approval process and I would like to acknowledge the
assistance provided by our new BEE partners (see separate release).`
The Ledjadja joint venture submitted the Mining Right Application, including a
social and labour plan and a mining work program, in February 2010.
31 March 2011
Paul Jury, Managing Director on (02) 9376 9000 or
Steve Matthews, Company Secretary on (02) 9376 9000
Anthony Tregoning (02) 8264 1000
Deloitte & Touche Sponsor Services (Pty) Limited
Date: 31/03/2011 09:58:01 Supplied by www.sharenet.co.za
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