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New UserKangala generates cash, Eskom requests higher specification coal
09 Jul 2014
Junior coal miner Universal Coal has reported maiden operating cash of A$3.9-million from is Kangala colliery, in South Africa, after it was commissioned in February this year.
The ASX-listed miner on Tuesday reported that 375 333 t of product was sold during the quarter ended June.
The company had increased its plant capacity to 4.25-million tonnes a year, accommodating a request from major power utility customer Eskom for higher specification coal from Kangala.
To accommodate the request, Universal said that a higher proportion of coal would be processed through the dense medium separation section of the coal handling and preparation plant, which would reduce overall sales by around 23% but would yield higher prices.
The company’s original two-million-tonne-a-year agreement with Eskom has been amended to ensure that net revenues received during this time would match the original agreement.
Source: http://www.miningweekly.com/