BSR - Basil Read Holdings Limited - Voluntary Business Update
BSR
BSR
BSR - Basil Read Holdings Limited - Voluntary Business Update
Basil Read Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1984/007758/06)
Share Code: BSR ISIN: ZAE 000029781
("Basil Read")
VOLUNTARY BUSINESS UPDATE
BASIL READ ENTERS INTO HEADS OF AGREEMENT WITH BEACON HILL RESOURCES PLC
RELATING TO MINAS MOATIZE COAL MINE IN MOZAMBIQUE
Highlights
- TWP Projects (Proprietary) Limited ("TWP") appointed to complete definitive
feasibility study
- Basil Read to be appointed as principal contractor to build, own and operate
the coal handling and preparation plant
- Basil Read to be appointed as principal mining contractor for Minas Moatize
Coal Mine
Basil Read is pleased to announce that it has entered into a heads of
agreement with Beacon Hill Resources Plc for development of the Minas Moatize
Coal Mine in Mozambique. In terms of stage one of the agreement, TWP has been
appointed to complete the definitive feasibility study ("DFS"), including the
design of the coal handling and preparation plant ("CHPP") and opencast mine.
Subject to the successful completion of the DFS, Basil Read is to be appointed
as the principal contractor to build, own and operate the CHPP at the mine, as
well as the principal mining contractor for 4 million tons per annum (mtpa).
This agreement represents a major engineering, procurement and construct
("EPC") contract signed by Basil Read following the merger with TWP and
represents a significant step forward in unlocking the synergies between the
merged entities.
The contract further supports Basil Read`s strategy of international expansion
and its stated intention to undertake larger, more technically challenging
projects.
12 April 2011
Johannesburg
SASFIN CAPITAL
A DIVISION OF SASFIN BANK LIMITED
Date: 12/04/2011 12:37:01 Produced by the JSE SENS Department.
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