Mining Weekly reported that the Waterberg Coal Joint Venture Partners (WCJVP) have completed a feasibility study regarding the development of an opencast mining operation that would produce 10 million tonnes of coal a year for South African utility Eskom.
As quoted in the press release:
This followed the cementing of a memorandum of understanding between the Waterberg joint venture (JV) and Eskom for a proposed coal supply agreement (CSA), which would see the envisaged mining operation delivering product to the coal-dependent parastatal for an initial 30-year term.
The coal project boasted 3.88-billion tonnes of coal, 2.07-billion tonnes of which fell into the measured category.
While noting that the details of the feasibility study remained confidential, ASX-listed Waterberg Coal Company (WCC) director Stephen Miller said in a statement on Monday that the JV partners were currently updating the study, which would be released as a full bankable feasibility study on completion.