To view the PDF file, sign up for a MySharenet subscription.

FSE - Firestone Energy Limited - Department of Mineral Resources

Release Date: 13/07/2010 08:31
Code(s): FSE
Wrap Text

FSE - Firestone Energy Limited - Department of Mineral Resources FIRESTONE ENERGY LIMITED (formerly Centralian Minerals Limited) Registration number: ABN 058 436 794) (SA company registration number: 200/023973/10 Share code on the JSE: FSE Share code on the ASX: FSE ISIN: AU000000FSE6 ("FSE" or "the Company") Department of Mineral Resources (DMR) The Firestone Energy Limited (ASX/JSE: FSE) board is pleased to announce that the application by Sekoko Coal (Pty) Ltd (Sekoko), for a coal mining right on the Waterberg JV Coal project has been accepted by the DMR. The application covering eight farms was made in terms of section 22 of the Minerals and Petroleum Resources Development Act, (MPRDA) by FSE`s Black Empowerment partner Sekoko. In terms of the MPRDA, Sekoko Coal will now: - Submit a scoping report ; - Consult with the interested and affected parties; - Conduct an environmental impact assessment, and - Submit an Environmental Management Program. Subject to the conclusion of the necessary offtake agreements mining at the Waterberg Coal Project`s Smitspan colliery site is targeted to commence by mid 2011 with the resource expected to be exploitable via shallow open-cast mining techniques. Mr. John Dreyer, Firestone Energy`s Chairman, said that "with the acceptance of the Mining Right application by the DMR and granting of the Mining Right expected in mid 2011 FSE is now focused on the construction of the mine and related infrastructure to coincide with the granting of the Mining Right", and added, "we expect to make an announcement on our chosen mining contractor and off-take agreements before the year end." "Management has spent much of 2009 planning the development of a `quick to market` open cut mine. If all progresses according to our schedule, Smitspan will come into production in the second half of 2011", concluded Dreyer. Further information can be obtained by contacting Mr John Dreyer. John Dreyer Chairman +61 (08) 9381-2755 About Firestone Energy Firestone Energy is an independent Australian exploration company focused on developing coal projects in South Africa. The company is currently exploring the richly endowed Waterberg coal field in the Limpopo Province of South Africa. The Company is committed to value-added growth through becoming an independent coal and energy producer at its projects in South Africa. The Company has entered into three joint ventures with Sekoko Resources, a South African black empowerment company (BEE) and Sekoko has two directors on the Board of Firestone Energy. Corporate Details ASX: FSE JSE: FSE Issued Capital: 2,331 million ordinary shares Major Shareholders: Sekoko Resources (Pty) Ltd Colbern Fiduciary Nominees Ltd Bell Potter Nominees Ltd Directors and Officers: Non Executive Directors: John Dreyer (Chairman) Timothy Tebeila (Deputy Chairman) Amanda Matthee Colin McIntyre Managing Director John Wallington Company Secretary Jerry Monzu Contact: Level 1, 63 Hay Street Subiaco, Western Australia 6008 Tel: +61 (0)8 9381 2755 Web: www.firestoneenergy.com.au Date: 13 July 2010 Company secretary Pretoria 13 July 2010 Sponsor and Corporate Advisor River Group Date: 13/07/2010 08:31:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

Share This Story