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Diversified resources group Exxaro Resources Limited (Exxaro) welcomes
today�s announcement by Richards Bay Coal Terminal (RBCT) that the group has
been awarded 2,5 million tonnes (Mt) per annum of export entitlement through
the RBCT subscription process.
This volume will become available on completion of RBCT�s Phase V
expansion which will increase RBCT�s overall annual throughput capacity by
19Mt by the second quarter of 2009.
The additional 2,5Mt awarded today is in addition to the 0,8Mt per
annum RBCT entitlement that Exxaro acquired following the merger with
Eyesizwe Coal.
Also on completion of the RBCT expansion, Exxaro will receive a
further 2Mt of export entitlement via the South Dunes Coal Terminal Company,
resulting in Exxaro�s total entitlement increasing to 5,3Mt per annum.
�Exxaro needs increased, competitively priced entitlement at RBCT in
order to match increasing production of export coal from our current and new
mines. Our increased
shareholding in RBCT is one of the essential requirements needed to
facilitate Exxaro�s growth prospects and is very much aligned with our growth
strategy,� said Ernst Venter, executive general manager of Exxaro�s coal
division.
�We now have a
significant coal export business, one which will grow hand in hand with
Exxaro�s strategy to become a major coal player in South Africa,� said Dr Con
Fauconnier, Exxaro�s chief executive officer.
ends
Editor�s Notes:
Exxaro is a diversified resources group with interests in the coal, mineral
sands, base metals, industrial minerals and iron ore commodities. Exxaro was
formed through the re-listing on the JSE Limited of Kumba Resources in
November 2006 as part of a major black economic empowerment transaction in
which Kumba�s iron ore assets were unbundled and listed as Kumba Iron Ore,
and the non-iron ore assets were merged with the assets of Eyesizwe Coal and
re-listed as Exxaro. The Exxaro group is one of the largest suppliers
of coal to Eskom, and is currently exporting some 2,5 million tonnes of coal
through its limited entitlement at RBCT and the annual lease of additional
entitlement. More information is available on www.exxaro.com.
Enquiries:
Ernst Venter
Executive General Manager: Exxaro Coal
Tel: +27 (0) 12 307 4322
Mobile: +27 (0) 83 609 1313
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