Keaton Energy, wat drie jaar gelede deur die mynentrepreneur mnr. Loucas Pouroulis gestig is, produseer einde November sy eerste steenkool uit Vanggatfontein, ’n nuwe myn naby Delmas.
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Junior coal miner Keaton Energy is bullish about the domestic coal market and will spend close to R430m by early next year in order to get a share of the “lucrative” domestic market.
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JSE-listed Keaton Energy said on Wednesday that it would produce the first coal from its greenfield Vanggatfontein project by November.
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Keaton will bring a 30000-tons- a- month bituminous coal project at the Vanggatfontein mine near Delmas into production at the end of November.
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The share price of JSE-listed Keaton Energy rose 5% on Tuesday, on the news that it had clinched a seven-year contract to supply energy coal to Eskom, South Africa's State-owned power utility.
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Coal exploration and development company Keaton Energy Holdings is ready to begin its first major mining project, Vanggatfontein, near Delmas in Mpumalanga.
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South African coal junior Keaton Energy has committed R158-million to develop the first phase of its Vanggatfontein project, near Delmas, in South Africa’s Mpumalanga province, where production was expected to start by the end of this year.
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Keaton Energy suffered nine armed robberies in 20 months which targeted diesel supplies at its now closed Klip Colliery near Ogies, according to CEO Paul Miller.
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Negotiations between Keaton Energy and three Delmas farmers over the price for seven sub-divisions of Vangatfontein farm, for which Keaton has attained mining rights, will go to the courts after Keaton served papers on the farmers in early March.
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Coal-mining junior Keaton Energy Holdings has doubled the coal resource at its Sterkfontein coal project, in Mpumalanga, to 69-million mineable tons in situ, following the conclusion of the first phase of its current drilling campaign.
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Die ontluikende steenkoolmaatskappy Keaton Energy gaan die hooggeregshof vra vir ’n bevel teen vier boere wat die myngroep toegang tot hul grond weier.
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KEATON Energy had discovered enough resources to support a viable underground coal mine in Mpumalanga, although it had yet to continue with the drilling programme, the coal exploration and development company said yesterday.
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Junior miner, Keaton Energy is one of the companies that fared well during the country's first recession in 17 years. The company's managing director, Paul Miller has been quoted as saying that the reason they did well was pure luck.