- 74% owned by Coal of Africa Limited (CoAL)
- Empowerment at 26% through Rothe Investments (Pty) Ltd, a newly established venture owned by Terracotta Resources (Pty) Ltd and Vibrant Veterans Minerals Resources (Pty) Ltd, both black economic empowerment companies, as well as King Makhado Holdings (Pty) Ltd, representing communities in close proximity to the project
- Contiguous to the Makhado Project, Limpopo Province, South Africa
- Access and infrastructure
- Good road and rail network
- Exploration phase: Infrastructure requirements currently being established through scoping studies in line with mining-rights requirements
- 1,660Mt mineable tonnes in-situ (MTIS)
- Carrying value at 30 June 2012
- US$75 million to date*
- Projected: 3,000
- Construction phase: 2,500
- Prospecting rights acquired from Rio Tinto Minerals Development Ltd/Kwezi Mining and Exploration (Pty) Ltd, and transferred by way of Section 11 approval
- Exploration and technical data is being compiled, new order mining-right applications to be lodged in FY2013
- Amendment of the associated prospecting environmental management plans is underway
- *Includes US$43 million in future payment tranches due in terms of the acquisition of these properties from Rio Tinto Minerals Development and Kwezi Mining & Exploration
- MbeuYashu – ‘Our Seed’
- In April 2012, CoAL completed the acquisition of the Chapudi coal assets and related exploration properties in the Soutpansberg Coalfield from Rio Tinto Minerals Development and Kwezi Mining & Exploration. Following the acquisition, CoAL’s resource and reserve statement was updated on 31 May 2012. With a total resource of 8.0 billion gross tonnes in situ (GTIS) and 2.4 billion MTIS, this represents a significant increase in previous volumes of 2.4 billion tonnes and 1.1 billion tonnes respectively.
- As part of the acquisition of the Chapudi Coal Project, a broad-based empowerment transaction was concluded with Rothe Investments to acquire a 26% interest in the assets. The combined entity, with CoAL’s 74% interest, has been renamed MbeuYashu (‘Our Seed’), and a constructive and co-operative relationship has developed with CoAL’s partners in this project.
The GSP is a consolidation of nine projects in three regions:
- Telema/Gray (previously Makhado Extension)
- Mount Stuart
- Chapudi West
- As part of CoAL’s strategy to develop and retain its interests in the Soutpansberg Coalfield and provide a platform for the future growth of its coking-coal mines in the northern part of South Africa, consolidation of the various prospecting rights and regulatory requirements have been compiled and submitted to the relevant departments for review or approval.