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Sable Mining Ltd. accelerating development of Reitkuil coal project

Oilfield Technology,

Sable Mining Africa Ltd. is pleased to announce that Delta Mining Consolidated Ltd (DMC) has commissioned a bankable feasibility study (BFS) for the Rietkuil Coal Project in South Africa. 

The Project, which is adjacent to Exxaro Resources Limited's Leeuwpan Colliery and Kuyasa Mining (Pty) Limited's Delmas Colliery situated in the Mpumalanga Province, has an in situ metallurgical and thermal coal resource estimate of 199.9 million t, of which 156.9 million t is in the measured category and 42 million t in the indicated category.

The BFS is expected to be completed by November 2010 and will be based on the feasibility study finalised by DMC in September 2009, which was completed to a +20%/-20% accuracy for a 3 million tpa run of mine operation.  Once completed, it is anticipated that the Project will be fast tracked to production.  The specialist engineering consultancies selected for the BFS study are VBKom Consulting Engineers (Pty) Ltd, Petroleum & Environmental Services Company, JLT Mining Services & Supplies (Pty), Sedgman Limited, Greene, JacPet cc and Shangoni Management Services (Pty) Ltd.

Sable Mining CEO Andrew Groves said, "Our aim is to ensure that DMC rapidly develops the Rietkuil Coal Project into production, and the commissioning of the BFS is the next step toward achieving this objective.  The Project has high quality thermal and metallurgical coal and is located in an established producing area with excellent infrastructure which will be beneficial both to the construction of the mine and the delivery of product to market.  We have a strong balance sheet with circa US$ 160 million in cash, which we will utilise to assist DMC's project development as well as identify further opportunities across Africa, focusing primarily on coal and iron ore."

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