The Waterberg Coal Company (the Company) is an international mining company incorporated in Australia. The Company’s shares are listed on the Australian Securities Exchange (ASX) and with a secondary listing on the Johannesburg Stock Exchange (JSE).
Geographically focused on South Africa, the Company is the lead and managing partner in the Waterberg coal project joint venture (the Waterberg Coal Project) situated in the Limpopo province. The Waterberg Coal Project consists of 8 coal tenements totaling 7,979 hectares and has identified SAMREC compliant coal mineral resources of 3.4 billion tonnes contained within the granted mining rights.
The Waterberg Coal Project comprises of the following:
- Export Project: the Company intends on commencing a mine development project for the production of up to 4 million tonnes of high quality coal for a minimum of 30 years.
- Eskom Project: the Company plans on delivering up to 10 million tonnes of high quality coal per annum for a period of 30 years to Eskom Holdings (the South African electricity provider) for the Majuba power station.
- IPP Project: creation of a independent power producer platform to provide power generation pursuant to the South African Department of Energy IPP program. The Company also intends on supplying power directly to industry. Coal generated from the Export Project and Eskom Project will be used as a low cost fuel to the IPP Project.