Thursday, 03 Mar 2011
The company revealed that it has now received an acceptance letter from South Africa's department of mineral resources, following its NOMR application in January 2011. The application must now be processed before the NOMR can be granted. On AIM the shares gained around 5% in opening deals, rising to 96.75 pence a share.
CZA highlighted that it is currently working on extensive economic, social and environmental impact studies as part of a detailed Environmental Management Program.
It expects to start work on the Makhado project's detailed design phase once the definitive feasibility study has been finalized and approved slated for the June quarter.
Makhado is one of the company’s four main assets alongside the Woestalleen Colliery, the Mooiplaats thermal coal mine and the Vele coking coal project. The coking coal project is located in Soutpansberg, 60 kilometers from Musina in the Limpopo Province, close to Rio Tinto's Chapudi project and covers an area of more than 23,000 hectares. It is expected to start production in 2013.(sourced :proactiveinvestors.co.uk)
Tags :Vale coking coal project, Rio Tinto's Chapudi project, Mooiplaats thermal coal mine