Ikwezi nears Ntendeka colliery construction
20th Jun 2012
JUNE 20 – Delays in licence approvals have forced Ikwezi Mining to slow some construction activities at its newly renamed, 70%-owned Ntendeka colliery (formerly Newcastle project) in Northern KwaZulu Natal, South Africa.
Construction of the wash plant is expected to be completed at the end of June, for commissioning in July. The company has secured a transport agreement with Transnet Freight Rail and expects the mining right and integrated water use license due shortly.
The 170,000tpm ROM wash plant, equating to 1.25Mtpa saleable product, can be expanded to 340,000tpm for potential underground operations.
An off-take agreement with a major international trader to take all production and provide port facilities for 3 years is expected to be finalised after approvals are received. Negotiations for an additional 500,000tpa port allocation are advanced.
Discussions are advanced with Development Bank of South Africa and two others for 5-year loan facility for about ZAR200M.
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