Resource Generation Limited (ASX:RES)
Resource Generation Limited (ASX:RES), or Resgen, is a new-generation, emerging coal producer. The Group is the owner of the rights to a large and defined Coal Resource in South Africa’s Waterberg coalfield. Through its fully empowered operating subsidiary, Ledjadja Coal (Pty) Ltd (Ledjadja), Resgen is working on developing and constructing the Boikarabelo coal mine.
Resgen’s holding in Ledjadja, a South African black economic empowerment (BEE) company, is currently 74% while Fairy Wing Trading 136 (Pty) Ltd, a wholly black-owned South African company, owns 26%.
Boikarabelo is a pioneer in opening the Waterberg coalfield, the next viable coal reserve in South Africa, and will make a significant contribution to the local economy and the country. The mine will also create a large number of permanent jobs.
A key objective of South Africa’s National Development Plan is unlocking the enormous potential of the country’s Northern Minerals Belt, using the Waterberg coalfield as a catalyst. In this, Resgen will play a pivotal and pioneering role.