Waterberg is said to be the next coal resource in South Africa, with approximately 40% of the country’s remaining coal reserves. This is exactly where ASX- and JSE-listed South Africa-based company, Resource Generation has started to develop the Boikarabelo Project.
ASX- and JSE-listed emerging coal producer Resource Generation (Resgen) says that significant progress has been made towards securing final approval for the development of the company’s major project, the Boikarabelo coal mine in South Africa’s Waterberg coal field.
Coal mine developer Resource Generation (Resgen) announced on Wednesday that it had made significant progress in securing final approval for its flagship Boikarabelo project in Limpopo.
The situation of two junior coal miners in the Waterberg could not be more different.
LEPHALALE – It appears to be all systems go for the finalisation of construction on the long-awaited Boikarabelo mine near Lephalale after Resource Generation (Resgen) announced that it had secured a R5.5 billion rand loan last week. According to a statement, Resgen was able to secure credit approval from members of a financing syndicate consisting of Rand Merchant Bank, Noble Resources, the Trading Group, the Industrial Development Corporation (IDC) and the Public Investment Corporation (PIC).
Johannesburg - The future looks bright for junior coal mining firm, Resource Generation (Resgen). It announced on Monday that it had secured R5.52 billion in funding to complete the construction of its Boikarabelo coal mine in Limpopo.
In what may be the biggest new coal mine developed in the world in 2016, ASX- and JSE-listed Resource Generation (ResGen) announced on Monday – through its project vehicle Ledjadja Coal – it had reached a commercial agreement to secure a funding package of R5.53 billion to continue the development of the Boikarabelo coal mine in Limpopo’s Waterberg region.
Resource Generation (Resgen) subsidiary, Ledjadja Coal, has agreed the commercial terms with a syndicate of lenders to secure funding for the construction of the Boikarabelo coal mine. Members of the financing syndicate will now seek their requisite approvals to release the funds worth AUS$515 million.
Coal producer Resource Generation’s (Resgen) subsidiary Ledjadja Coal has secured ZAR5.52bn ($403m) to complete construction of the Boikarabelo coal mine in Limpopo, South Africa.
ASX and JSE listed emerging coal producer Resource Generation Limited (Resgen) is pleased to advise that its BEE subsidiary, Ledjadja Coal (the Company), has agreed the commercial terms on which the entities listed below (the Financing Syndicate) will seek their requisite approvals in order to secure funding of R5.52 billion (A$515 million) to complete the construction of the Boikarabelo Coal Mine.