Universal Coal Plc (ASX:UNV)
Universal Coal (ASX:UNV) is committed to building a sustainable mid-tier coal mining company providing investors with exposure to coking and thermal coal assets with the potential to develop into significant projects.
The Company has a portfolio of producing, development and exploration assets located across South Africa’s major coalfields.
Kangala Mine in the Witbank coalfield, Universal’s first mine, commenced production in February 2014. Kangala produces an average of 2.5 million tonnes of saleable thermal coal per annum, primarily for the domestic market.
The New Clydesdale Colliery (NCC) commenced underground production in 2016 and has ramped up opencast mining production, completing the company’s progress towards becoming a multi-mine producer.
Besides its thermal coal projects (including Brakfontein, Eloff & Arnot South), the company has completed earn-in agreements over one coking coal project (Berenice/Cygnus) in the Soutpansberg coalfields.