continental coal All systems go for Penumbra colliery

Penumbra coal mine was scheduled to produce its first coal early in the fourth quarter of this year, Continental Coal said yesterday. The company had set aside a contingency fund of about $4.5 million (R38.2m) to cover any potential cost over-runs. The Penumbra coal mine in Mpumalanga, which is set to become Continental’s third thermal coal mining operation in South Africa, is set to produce 750 000 tons a year of run-of-mine coal that will be beneficiated through the adjacent Delta processing operations, which comprise a 1.8 million tons a year coal processing plant and the 1.2 million tons a year Anthra rail siding. Sales of 500 000 tons a year of high-quality export thermal coal are forecast to be railed to Richards Bay Coal Terminal from the fourth quarter. The Sydney-listed shares ended flat at 9 Australian cents. – Staff reporter