JOHANNESBURG (miningweekly.com) – Output from coal junior Keaton Energy’s mines remained static during the first half of the 2016 financial year, after the company delivered record production in the prior financial year.
The JSE-listed company’s Vanggatfontein colliery, in Mpumalanga, delivered 1.192-million tonnes of washed 2- and 4-seam thermal coal to State-owned power utility Eskom in the six months to September 30, a 4 367 t decline on the 1.196-million tonnes achieved in the six months ended September 2014.
The miner’s Vaalkrantz colliery, in KwaZulu-Natal, recorded a year-on-year decrease in the production of domestic and export anthracite, from 191 898 t during the six months to September 2014, to 176 089 t in the six months under review.
“We have maintained our long-life cash generating Vanggatfontein asset at optimal production and efficiency levels during the period. The operational issues at Vaalkrantz are being addressed and we continue to move forward confidently,” CEO Mandi Glad said in a production update to shareholders on Thursday.
Meanwhile, Keaton said it would provide an update in due course on the proposed offer for its KwaZulu–Natal assets under Leeuw Mining and Exploration (LME).
The LME assets comprised Vaalkrantz colliery, the Koudelager coal project, the Balgray coal project and the Mooiklip coal project, but not the Braakfontein coal project.
Edited by: Creamer Media Reporter
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