Batcher, check the optimisation study of De Witt in the announcement of 21st Nov 2012.
"In addition the forecast total capital costs to achieve first production from the planned opencast mining operation can also be reduced by up to 53% from ZAR342m estimated in the 2011 Feasibility Study to approx. ZAR161m (approx. US$14m)."
Conti plan to use third-party 'toll' washing coal-loading facilities initially, I understand. There is an awful lot of existing coal-mining plant and infrastructure in the near vicinity of De Witt!
Obviously the underground development will cost a lot more, but it might be another few years before that starts. The open-cast will generate a very nice cashflow in the meantime.
DYOR
CCC Price at posting:
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