Keldoron wins coal rights in Amajuba

2008-08-12 00:00

The board of Miranda Minerals yesterday announced that its subsidiary, Keldoron Properties 22 (Pty) Limited, has been awarded a tender to prospect for and develop four coal-prospecting rights currently held by the Amajuba District Municipality (ADM) in KZN.

Miranda holds a 70% stake in Keldoron through its KZN-based subsidiary, Miranda Coal (Pty) Ltd, with the remaining 30% held by Miranda’s BEE partner, Nelesco (Pty) Limited.

In terms of the agreement, Miranda will provide the required financial and technical support to Keldoron, and Nelesco the necessary expertise for the socio-economic developmental aspects of the project.

Keldoron will start a full- scale drilling programme to confirm both the historical information and the coal qualities of the project.

The permits cover five farms of about 3 700 hectares in north-western KZN, near Dannhauser.

The municipality applied for and was granted four new order prospecting licences by the Department of Minerals and Energy (DME).

In June 2008, the ADM invited companies with the necessary skills and experience to develop these projects into mining operations to tender for the four prospects.

The ADM has undertaken to facilitate the Section 11 transfer of the prospecting rights to Keldoron with the DME.

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