WESCOAL HOLDINGS LIMITED - MINING RIGHT GRANTED OVER INTIBANE COLLIERYRelease Date: 16/07/2012 10:23:00 Code(s): WSL
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")
Mining Right granted over Intibane Colliery
Shareholders are advised that Wescoal has been awarded a Mining Right by the
Department of Mineral Resources, number MP 30/5/1/2/2/483 MR over portions 12
and 16 of the farm Vlakvarkfontein 213 IR, situated in the Witbank district.
The Intibane Colliery is a coal project situated in the Witbank Coalfield,
with 4 Seam and 2 Seam present. Mining in adjoining areas has taken place over
a number of years, with collieries supplying bituminous coal to Eskom, the
inland market and export steam coal. Portion 16 has an indicated resource of
1, 84 million tons and an inferred resource of 240,000 tons with a combined
strip ratio of 1, 5 to 1. Portion 12 has an inferred resource of 1, 9 million
Wescoal is at an advanced stage of mine planning for Intibane Colliery, with
mining expected to commence in the latter half of 2012, with the first coal
expected to be available in early 2013.
The coal resources at Intibane Colliery is a further step towards Wescoals
stated production goal of 4 million tons of coal produced per annum by 2016.
16 July 2012
Date: 16/07/2012 10:23:00 Supplied by www.sharenet.co.za
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