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SAH
SAH
SAH - South African Coal Mining Holdings - Significant off-take agreement
signed with Eskom
South African Coal Mining Holdings Limited
Registration number 1994/009012/06
Share code: SAH
ISIN code: ZAE0000102034
("SACMH" or "the company")
Significant off-take agreement signed with Eskom
SACMH is pleased to announce that it has concluded an off-take agreement with
Eskom to supply its Camden Power Station. The contract is for the delivery of a
minimum of 1.2 million tonnes of coal from the company`s Umlabu Colliery over a
period of three years. The commencement date is expected to be 1 April 2008.
Camden Power Station is located 6 kilometres from Ermelo and approximately 30
kilometres from Umlabu Colliery. The coal will be delivered by road.
Currently, SACMH exports 200 000 tonnes of coal per year through its RBCT
Quattro allocation. The company`s export allocation will reach 500 000 tonnes
in Phase V which is scheduled to commence in 2009. Current production from
Umlabu Colliery is approximately 100 000 tonnes per month.
Karl Gribnitz, Chief Executive, said:
"This is a significant contract for the company. Together with our controlling
shareholder, Royal Bafokeng Capital, we have committed to increase our mining
activity in order to increase the tonnage delivered to Eskom over the next two
years."
19 February 2008
Sponsor : QuestCo
Enquiries:
Melanie Steyn, Group Executive
SACMH Limited 011 748 2831
Nicholas Williams
College Hill 011 447 3030
NOTES TO EDITORS:
SACMH is a BBBEE coal mining company with Royal Bafokeng Capital being the
controlling shareholder.
Following a comprehensive restructuring process, the company recommenced trading
on the main board of the JSE Limited on 31 July 2007.
The company`s main operation is the Umlabu coal mine in the magisterial district
of Ermelo, Mpumalanga. It is an opencast and underground mine with an expected
life of 18 years. Equipment was delivered to the mine in September 2007 in
order for production to be ramped up to 1.2 million tonnes per annum.
Discussions are ongoing regarding the acquisition of adjacent reserves and the
construction of a new processing plant and railway siding.
The company`s strategy is to be the premium BBBEE coal mining platform in South
Africa. The company will seek organic growth by optimising the Umlabu operation,
expansion projects and exploration and also growth through acquisition.
Date: 19/02/2008 14:51:41 Produced by the JSE SENS Department.
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