| Wed 11 Apr 2012, 10:37 | | KEH - Keaton Energy Holdings Limited - Substantial across-the-board |
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KEH
KEH
KEH - Keaton Energy Holdings Limited - Substantial across-the-board
production increases in FY2012
Keaton Energy Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2006/011090/06)
JSE share code: KEH ISIN: ZAE000117420
("Keaton Energy")
SUBSTANTIAL ACROSS-THE-BOARD PRODUCTION INCREASES IN FY2012
Johannesburg, South Africa. 11 April, 2012. Keaton Energy , in a production
update released today, reports substantial across-the-board production
increases from its South African operations in the financial year ended 31
March 2012.
The Company`s Vanggatfontein Colliery in Mpumalanga province delivered 955
376t of washed 4- and 2-Seam thermal coal to power utility Eskom between
June 2011 and the end of the reporting period, and continues ramp-up towards
its targeted 175 000t per month.
Production of 5-Seam metallurgical coal for the domestic market from
Vanggatfontein increased by 146% to 140 241 tonnes (t) from the previous
year`s 56 886t.
Vaalkrantz Colliery in Kwazulu-Natal province, over which Keaton Energy
gained effective control on 14 December 2011, dispatched 375 950 tonnes of
anthracite to domestic and export customers in the 12-month period to 31
March 2012, a 76% increase over the previous year`s 213 503t.
Vaalkrantz`s exports of anthracite increased by 83% to 168 685t compared with
91 875t in the 12-month period to 31 March 2011, while supply to the domestic
market rose by 70% to 207 298t compared with 121 627t.
"Now, with two operating collieries within the group, we have a great base
from which to grow to reach our 5-million tonne per annum target," says
Managing Director Paul Miller.
"Our priorities now are to develop the Braakfontein export thermal coal
project, near Newcastle in Kwazulu-Natal and to take the Sterkfontein Project
in Mpumalanga further up the value curve."
Sponsor
Nedbank Capital
Date: 11/04/2012 10:37:01 Produced by the JSE SENS Department.
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