Ventures | Anthracite Coal

Kangwane (Main Street 800 (Pty) Ltd)

Overview
Kangwane is an anthracite coal deposit near Komatipoort in the Mpumalanga province.

Shareholding
The current shareholders are ZYL Limited (60%), Siyanda Resources (Pty) Ltd (22,5%), Double Ring Mining (Ltd) Pty (10%), Opes Capital (2,5%) and Kangwane Community (5%).

Status
The BFS process is currently underway and RSV has produced a CPR with the following key aspects:

• Total resource of 200 million tons;
• Opencastable reserve of 10.2 million tons;
• Underground reserve of 9.4 million tons;
• Underground reserve of 14.4 million tons on the North section; and
• An estimated 5 million tons situated in the 100 year flood zone area

The BFS is set for completion in November 2012, with the mining licences coming in 2013. The plan is to capitalise the mine in July / August 2013 with civil work starting in September 2013. Production is estimated to commence during the first quarter of 2014.

Contact Person
Mzwandile Nombewu
info@siyandaresources.co.za