Monday, 30 May 2011
Cape Town, South Africa: South African mines minister Susan Shabangu has approved recommendations which will allow as many as four new black-owned companies export entitlement from the Richards Bay Coal Terminal (RBCT).
Miningmx reports that the recommendations are in terms of the long-awaited reorganisation of South Africa’s Quattro system, which provides 4Mtpa of export entitlement to black-owned companies through RBCT.
The reorganisation of Quattro became necessary when members of the Quattro scheme successfully applied for use of Phase V of RBCT’s expansion project commissioned in May last year. As a result, these Quattro members ‒ using both RBCT entitlement and Quattro ‒ have been “double dipping”.
Chief director for mineral promotion at the Minerals Resources Department Bonga Ndabezitha said in terms of the recommendations roughly 700,000t/year of export entitlement had been reallocated. Of this, Quattro members not receiving RBCT Phase V entitlement would be upgraded to 200,000t/year while the balance would be provided to admit three to four new exporters to the system.
“The minister has approved the recommendations and we’ll begin the process of informing Quattro members from about Thursday or Friday this week,” he told Miningmx.
Quattro members who had won direct RBCT entitlement would not immediately lose their Quattro membership, but would be migrated from the system to RBCT direct entitlement over a period of three to four years.
Ndabezitha said the appointment of Quattro’s new administrator would be decided next week. In February this year, the system’s administrator, Mhlatuze Bay Coal Administrators (Mhlatuze), was subject to allegations that it had misappropriated R5.5 million. The administrator was suspended pending an investigation. Two companies that tendered for Quattro’s management have been shortlisted with adjudication by the Code Industry Task Team.
“We met last week to decide on criteria we would use to adjudicate the successful administrator,” said Ndabezitha. “We will make a recommendation to the minister and we hope to make an appointment next week,” said Nbabezitha. (sourced miningreview)
Cape Town, South Africa: South African mines minister Susan Shabangu has approved recommendations which will allow as many as four new black-owned companies export entitlement from the Richards Bay Coal Terminal (RBCT).
Miningmx reports that the recommendations are in terms of the long-awaited reorganisation of South Africa’s Quattro system, which provides 4Mtpa of export entitlement to black-owned companies through RBCT.
The reorganisation of Quattro became necessary when members of the Quattro scheme successfully applied for use of Phase V of RBCT’s expansion project commissioned in May last year. As a result, these Quattro members ‒ using both RBCT entitlement and Quattro ‒ have been “double dipping”.
Chief director for mineral promotion at the Minerals Resources Department Bonga Ndabezitha said in terms of the recommendations roughly 700,000t/year of export entitlement had been reallocated. Of this, Quattro members not receiving RBCT Phase V entitlement would be upgraded to 200,000t/year while the balance would be provided to admit three to four new exporters to the system.
“The minister has approved the recommendations and we’ll begin the process of informing Quattro members from about Thursday or Friday this week,” he told Miningmx.
Quattro members who had won direct RBCT entitlement would not immediately lose their Quattro membership, but would be migrated from the system to RBCT direct entitlement over a period of three to four years.
Ndabezitha said the appointment of Quattro’s new administrator would be decided next week. In February this year, the system’s administrator, Mhlatuze Bay Coal Administrators (Mhlatuze), was subject to allegations that it had misappropriated R5.5 million. The administrator was suspended pending an investigation. Two companies that tendered for Quattro’s management have been shortlisted with adjudication by the Code Industry Task Team.
“We met last week to decide on criteria we would use to adjudicate the successful administrator,” said Ndabezitha. “We will make a recommendation to the minister and we hope to make an appointment next week,” said Nbabezitha. (sourced miningreview)
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