BHP puts coal prospecting rights up for sale in SA

1 Feb 2011

Johannesburg–BHP Billiton Energy Coal South Africa (Becsa) will divest some of its currently undeveloped coal prospecting rights to focus on its existing operations throughout South Africa.
Becsa on Monday reported that other industry members would be better positioned to develop these rights, potentially converting them into mining rights, in a more timely way.
The prospecting rights up for tender included Hartogshof, T-Project, Davel, Pegasus, Theunissen, Waterberg, Newcastle, Ermelo and Remhoogte.

“The divestment process will provide industry participants with an opportunity to maximise the benefit to the South African economy, which in turn can complement government’s increased focus on economic growth and employment creation,” said BHP Billiton South Africa chairperson Dr Xolani Mkhwanazi.
The company believed that the sale would contribute towards the objectives of the Mineral and Petroleum Resources Development Act and Mining Charter by promoting socioeconomic development and expanding opportunities for historically disadvantaged South Africans.
President Manie Dreyer noted that Becsa would continue to contribute towards the growth and welfare of its employees and the sustainable development of its host communities.
“We also aim to deliver value to our shareholders through the continued development of our existing operations. This divestment process will have no impact on Becsa’s current workforce,” he said.
BHP Billiton invited exploration, mining and development companies to participate in a public tender process for the sale of these rights.(sourced:Mariaan Webb)