Universal Coal has announced that the re-commissioning of New Clydesdale Colliery (NCC) remains on schedule, expecting first coal in September 2016.
NCC hosts JORC 2012 Mineral Resource of 130.4 million t and will initially commence with 900 000 tpy. A second phase opencast development will commence upon securing of an offtake agreement, adding a further 2 million tpy ROM of coal.
Universal’s CEO, Mr Tony Weber, commented: “We look forward to bringing NCC on stream and delivering on our stated strategy of becoming a multi-mine coal producer. With our first operation Kangala providing strong production and cash flows, NCC will soon feature as our ‘second leg’ to stand on. Once the second phase of NCC is up and running and at [a] steady state we will be in a good position to consider shareholder returns, including dividends.”
Edited from press release by Angharad Lock