20th Nov 2013 11:41
LONDON (Alliance News) - Beacon Hill Resources PLC Wednesday said it is progressing towards final commissioning of its rail line at its flagship Minas Moatize Coal Mine.
The steel and coal production company, operating in the Tete province of Mozambique, said a maiden test train has arrived at the company's Tete coal loading facility, which is set to collect 2,600 tonnes of coal as its maiden test run.
Beacon Hill said it aims to have five new 2,240 kilowatt diesel locomotives on track by the end of November and to have the Moatize site fully operational by the end of the first quarter 2014
The company said that all permitting requirements for its Beira off-loading facility have been completed and the remaining simplified environmental report will be completed by the end of November 2013. Thereafter the company intends to commence construction activity on the site.
Beacon Hill shares were up 13.5% to 0.919 pence, putting it in the top five AIM movers Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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