27th Sep 2013 08:53
LONDON (Alliance News) - Strategic Natural Resources PLC Friday said it has received payment for the first shipment of coal from its Elitheni Mine at Indwe in the Eastern Cape of South Africa.
The first shipment of thermal coal left the mine September 2. It had already shipped anthracite, but no coal mined at Elitheni.
"Based on the company's forecast coal market pricing and current mine planning, costs and yields it is anticipated by the board of SNR that future coal shipments for the foreseeable future will also be of thermal coal rather than anthracite," it said in a statement.
The company's shares were up 1.7% at 10.8 pence early Friday.
By Steve McGrath; [email protected]; @SteveMcGrath1
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