KEATON ENERGY PROJECT
Moabsvelden to help Wescoal exceed 8-million tonne target
Wescoal is on track to hit its coal output of 8-million tonnes a year, with a newly acquired property within Keaton Energy underpinning the target, says CE Waheed Sulaiman.Growth for Wescoal, which supplies state-owned power company Eskom, other domestic users and the export market, will come from internal assets.In early 2017, Wescoal bought Keaton for R526m in cash and shares. While the purchase would increase output from the 3.4-million tonnes in 2016, the undeveloped Moabsvelden prospect would push the company beyond its 8-million tonne annual target."The combined group is now better positioned to meet increased demand, both from Eskom as well as other domestic and export customers, which have grown noticeably as a contributor segment," Sulaiman said on Wednesday.The firm expected to produce between 1.5-million and 2-million tonnes yearly of additional ROM (run of mine) coal from the Moabsvelden project. Sulaiman said this would result in the company "comfortably exceeding our 8...
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