2nd Sep 2008 07:00
Strategic Natural Resources PLC
Bang on Target
02 September 2008
Strategic Natural Resources ("SNR") is pleased to announce that its 74% owned subsidiary, Elitheni Coal (Pty) Ltd ("Elitheni" or the "Company"), has expanded its blasting programme at its coal deposit near Indwe in the Eastern Cape, South Africa.
On 18 August the Company announced that it had performed the first blast at its mine site to remove overburden from the outcropping coal seam. On 29 August the Company performed another controlled blast to fracture the exposed coal as a result of the first blast which has resulted in approximately 1,900 tonnes of saleable coal being exposed. This coal will shortly be crushed and graded in equipment which is due to be commissioned within the next 5 days; thereafter the coal will be available for sale and onward delivery to a number of trial customers by the end of September.
SNR's Chief Executive, Jeremy Metcalfe, said "This is a small beginning which like an oak tree that started life as an acorn will undoubtedly grow into something of considerable significance. The demand for coal in South Africa is growing at an unprecedented rate as is the demand for electricity. Our proven coal deposit is positioned to supply an Independent Power Plant of up to 500MW for the next 20 years."
Enquiries:
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Jeremy P Metcalfe, Chief Executive |
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Strategic Natural Resources plc: |
+44 1303 874 798 |
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Allan Piper / Andrew Dunn, |
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Tavistock Communications: |
+44 20 7920 3150 |
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Rod Venables / James Reeve |
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HB Corporate: |
+44 20 7510 8600 |
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