| Tue 13 Jul 2010, 8:31 | | FSE - Firestone Energy Limited - Department of Mineral Resources |
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FSE
FSE
FSE - Firestone Energy Limited - Department of Mineral Resources
FIRESTONE ENERGY LIMITED
(formerly Centralian Minerals Limited)
Registration number: ABN 058 436 794)
(SA company registration number: 200/023973/10
Share code on the JSE: FSE
Share code on the ASX: FSE
ISIN: AU000000FSE6
("FSE" or "the Company")
Department of Mineral Resources (DMR)
The Firestone Energy Limited (ASX/JSE: FSE) board is pleased to announce that
the application by Sekoko Coal (Pty) Ltd (Sekoko), for a coal mining right on
the Waterberg JV Coal project has been accepted by the DMR. The application
covering eight farms was made in terms of section 22 of the Minerals and
Petroleum Resources Development Act, (MPRDA) by FSE`s Black Empowerment partner
Sekoko.
In terms of the MPRDA, Sekoko Coal will now:
- Submit a scoping report ;
- Consult with the interested and affected parties;
- Conduct an environmental impact assessment, and
- Submit an Environmental Management Program.
Subject to the conclusion of the necessary offtake agreements mining at the
Waterberg Coal Project`s Smitspan colliery site is targeted to commence by
mid 2011 with the resource expected to be exploitable via shallow open-cast
mining techniques.
Mr. John Dreyer, Firestone Energy`s Chairman, said that "with the acceptance of
the Mining Right application by the DMR and granting of the Mining Right
expected in mid 2011 FSE is now focused on the construction of the mine and
related infrastructure to coincide with the granting of the Mining Right", and
added, "we expect to make an announcement on our chosen mining contractor and
off-take agreements before the year end."
"Management has spent much of 2009 planning the development of a `quick to
market` open cut mine. If all progresses according to our schedule, Smitspan
will come into production in the second half of 2011", concluded Dreyer.
Further information can be obtained by contacting Mr John Dreyer.
John Dreyer
Chairman
+61 (08) 9381-2755
About Firestone Energy
Firestone Energy is an independent Australian exploration company focused on
developing coal projects in South Africa. The company is currently exploring the
richly endowed Waterberg coal field in the Limpopo Province of South Africa. The
Company is committed to value-added growth through becoming an independent coal
and energy producer at its projects in South Africa. The Company has entered
into three joint ventures with Sekoko Resources, a South African black
empowerment company (BEE) and Sekoko has two directors on the Board of Firestone
Energy.
Corporate Details
ASX: FSE
JSE: FSE
Issued Capital:
2,331 million ordinary shares
Major Shareholders:
Sekoko Resources (Pty) Ltd
Colbern Fiduciary Nominees Ltd
Bell Potter Nominees Ltd
Directors and Officers:
Non Executive Directors:
John Dreyer (Chairman)
Timothy Tebeila (Deputy Chairman)
Amanda Matthee
Colin McIntyre
Managing Director
John Wallington
Company Secretary
Jerry Monzu
Contact:
Level 1, 63 Hay Street
Subiaco, Western Australia 6008
Tel: +61 (0)8 9381 2755
Web: www.firestoneenergy.com.au
Date: 13 July 2010
Company secretary
Pretoria
13 July 2010
Sponsor and Corporate Advisor
River Group
Date: 13/07/2010 08:31:01 Produced by the JSE SENS Department.
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