Strategic Natural Resources said that it remained on schedule to deliver its first orders by the spring of next year.

In its results statement it said that it had developed a mining plan to that would ensure the most cost-effective way to deliver against its first orders and that opencast workings have been targeted for full production by February 2012, with underground workings to begin in April. Current negotiations with suppliers of washing plants have led the firm to expect that a 150 tonne per hour module will be commissioned by the end of April, which will allow it more than enough time to begin shipping ‘beneficiated’ (higher grade) coal by June.

The firm has also signed a memorandum of understanding with a private rail company to provide the rail services and rolling stock necessary to begin rail operations to the ports of East London and Coega. In addition to its initial export order, the firm is in discussions with third parties regarding further off take of coal on a long term basis.

(Sourced from Proactive Investors)