ASX-listed metallurgical coal exploration company ZYL, headed by CEO Ian Benning – a Wits mining engineering graduate – is “extremely pleased” with the results of the company’s bankable feasibility study at Kangwane Central, in Mpumalanga. Start-up capital of $67.6-million is needed to produce 1.2-million tons of anthracite a year for the first eleven years, with more capital needed in years six and seven, as well as year 12, when the project will have the opportunity to go underground. Kangwane Central’s compliant 19.3-million-ton reserve, which is expected to generate $1.47-billion in revenue and $754-million net cash, can also serve as a potential a platform for Kangwane South and North’s future go-ahead. ZYL is going all out to secure approvals to allow it to mine by 2014.
HWK Price at posting:
3.5¢ Sentiment: None Disclosure: Not Held
