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IKWEZI MINING LIMITED

ASX: IKW

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Description

Ikwezi Mining is a resource exploration and development company aiming to create Shareholder value through the acquisition, exploration and development of coal projects in South Africa. Our Group is focused on advancing the development of three coal projects in the KwaZulu Natal and Limpopo regions of South Africa.

We hold Prospecting Rights and majority interests in these Projects, the most advanced of these being our 70% held Newcastle Project with a JORC compliant resource of 209 million tons of coal. We have applied for a mining right for this Project which is expected to be determined in October 2011. We hope to commence development of this Project in the fourth quarter of 2011 subject to the granting of this right and associated authorisations including the finalisation of our geological studies, development and environmental management plans. Our other earlier stage exploration Projects are our 60% owned Newcastle Phase 2 and Acorn Projects.

Over the longer term, we propose to realise the full potential of all of the Projects to provide us with the foundation from which we can seek to expand production and create further shareholder value through the acquisition, exploration and development of coal projects in South Africa.

Newcastle - Phase 1, South Africa

Ikwezi Mining Limited Ownership: 70%
Locality: Northern KwaZulu Natal
Tenure: Mining Right Application
Size: 12 182 hectares
Resource: JORC Resource 209mt
Product: Export grade thermal coal, Low volatile coal (Lean)
Development Approvals: Mining Right & Water Use License expected in Q4 CY’11
Capex: $A21m

Newcastle - Phase 2, South Africa

Ikwezi Mining Limited ownership: 60%
Location: Northern KwaZulu Natal
Tenure: Prospecting Right
Size: 4,664 ha
Resource: Exploration potential
Product: Export grade thermal coal, Lean coal, Anthracite
Project Highlights: Area well known to management; Expect to demonstrate good quality, low phosphorous coal, Proximity to rail sidings with capacity
Exploration: Exploration program planned Q4 ’11, Drill to a 1,000m borehole spacing grid, JORC Resource drilling to commence following initial programme

Acorn Project, South Africa

Ikwezi Mining Limted Ownership: 60%
Locality: Gauteng Province
Tenure: Prospecting Right
Size: 20,758 ha
Resource: Exploration potential
Product: Thermal coal
Logistics & Infrastructure: Coal fields in region show similar characteristics to Waterberg, Utilities (e.g. Eskom) planning to increase activities in region, Potential to unlock significant value if infrastructure becomes available
Development Approvals: Initial program planned commence Q4 ’11

Mine For

coal

Location of operation(s)

South Africa

Address

198 Oxford Rd Illovo
, JOHANNESBURG, South Africa

Phone

(27 11) 994 8900

Email

Website


Last Updated

3/8/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.