WARNING: This is Version 1 of my old archive, so Photos will NOT work and many links will NOT work. But you can find articles by searching on the Titles. There is a lot of information in this archive. Use the SEARCH BAR at the top right. Prior to December 2012; I was a pro-Christian type of Conservative. I was unaware of the mass of Jewish lies in history, especially the lies regarding WW2 and Hitler. So in here you will find pro-Jewish and pro-Israel material. I was definitely WRONG about the Boeremag and Janusz Walus. They were for real.
Original Post Date: 2010-09-15 Time: 09:00:02 Posted By: News Poster
By Alistair Anderson
Johannesburg – JUNIOR coal miner Resource Generation (Resgen) announced yesterday that it had secured its first coal off-take contract, allowing it to supply an Indian group with coal for 20 years.
Resgen is based in Sydney, Australia, and is listed on the Australian Stock Exchange. It took a secondary listing on the JSE in July to improve its profile in Africa and to raise funds to develop projects in the Waterberg region.
Ninety percent of Resgen’s assets are in SA.
In terms of the contract signed with Integrated Coal Mining, Resgen will sell coal for 20 years from its Boikarabelo mine in SA to Integrated, while Integrated will subscribe 10,5m for a 10% shareholding in Resgen.
Resgen will supply Integrated with 1-million tons of thermal coal for the first three years, followed by 2-million tons for the next 17 years.
Integrated will buy the coal on behalf of an affiliate, CESC, India’s third-largest power utility with an installed generating capacity of 1225MW serving nearly 2,5-million consumers across the twin cities of Kolkata and Howrah.
The mine is Resgen’s main project with an estimated cost of R4,5bn and it is expected to produce about 6-million tons of coal a year.
The Boikarabelo mine will start production in early 2013 at a price calculated using the international benchmark at the time, Resgen said. A mining right is expected in the first quarter of next year, at the same time as financing is expected to be finalised.
Resgen has secured a temporary solution to rail the 6-million tons a year of thermal coal to customers once it has built a mine.
A longer-term plan that will cost it at least R2,5bn is in the works. This plan may entail a public-private partnership with Transnet as it increases production.
Resgen will place 18268053 shares with Integrated at a share price of 0,575 US cents.
“This is a major step in our plan to establish our Boikarabelo mine as a significant supplier of coal to both export and South African domestic markets,” Resgen MD Paul Jury said. “It represents a vote of confidence by CESC in Boikarabelo’s potential, and positions us to sell increasing quantities of coal as CESC’s generating capacity grows.”
CESC has said it wants to increase its capacity from 1225MW to 5745MW.
As far as transporting the coal is concerned, Mr Jury has not yet commented on the details, but it is understood the short-term solution will tide the company over until it reaches a more favourable agreement with Transnet, which could take some time.
Resgen is trying to work out how to transport its coal to Eskom power plants in the Witbank area and to the coast, either through Richards Bay or Matola in Mozambique.
Original Source: 
Original date published: 15 September 2010
Source: http://allafrica.com/stories/201009150355.html?viewall=1