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Riversdale Mining [ASX: RIV] - Quarterly Report, March 2010
Riversdale Mining (ASX: RIV) has released its Quarterly Activities Report for the period ending 31 March 2010.
Highlights:
Benga Coal Project (Riversdale 65%)
Approval for the Environmental Impact Study (EIS) on the project has been granted by the Ministrio para a Coordenao da Aco Ambiental (MICOA), the regulatory authority for environment within the Government of Mozambique and is in respect of Riversdales long term plan for a 20 million tonne per year coking and thermal coal project
Orders have been placed for long-lead equipment
Mining contract signed with MCC Contracts Pty Limited for the provision of open pit mining on the Project
Benga Coal Project officially opened by the President of the Republic of Mozambique
Benga Power Plant
Approval for the Benga Power Plant (BPP) EIS granted by MICOA
Riversdale has received confirmation of access to the existing Mozambique power transmission network
The Benga Coal Project will supply thermal coal to the power plant
Discussions are well advanced with offtake and development partners
Zambeze Project EPL946L (Riversdale 100%)
Conceptual mine plans developed for the Zambeze Project to cover the initial Indicated Coal Resource of 1.70 billion tonnes (bt)
Options are being assessed to determine the optimal approach to develop the mine including processing and logistics
Products comprise hard coking coal and thermal coal
The government has granted an exploration lease extension for a further 3 years
Exploration in Mozambique
Reconnaissance drilling is under way on licences in the Tete, Changara and Cahora Bassa areas
A number of promising prospects have been identified by drilling on the Changara leases west of Tete with indications of coking and thermal coal
Zululand Anthracite Colliery (ZAC)
ROM production for the March quarter was 179,700 tonnes, a decrease of 4,824 tonnes on the December quarter
Saleable production totalled 163,334 tonnes for the March quarter, up 1% on the December quarter
Product sales were 273,217 tonnes, a significant increase of 68,698 tonnes on the December quarter indicating the improvement in market conditions
The Ngwabe Project is progressing well with ground conditions to date being consistent with expectations
Corporate
Cash on hand was A$255 million at 31 March 2010
Please find details in the attachment.
For further information, please contact:
Michael OKeeffe
Executive Chairman
Steve Mallyon
Managing Director
Niall Lenahan
Company Secretary
P: +61 2 8299 7900
Media:
Bill Kemmery
Fortbridge
P: +612 9331 0655
M: +612 400 122 449
E:
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