Ikwezi Mining (IKW)

Shares / Stock Code

IKW

Stock Exchange / Sharemarket

ax

Ikwezi Mining (IKW) is a resource exploration and development company aiming to create Shareholder value through the acquisition, exploration and development of coal projects in South Africa. The Group is focused on advancing the development of three coal projects in the KwaZulu Natal and Limpopo regions of South Africa.

Ikwezi Mining was listed on the Australian Securities Exchange on 19 July 2011.

The company holds Prospecting Rights and majority interests in these Projects, the most advanced of these being the 70% held Newcastle Project with a JORC compliant resource of 209 million tons of coal. They have applied for a mining right for this Project which is expected to be determined in October 2011.

They hope to commence development of this Project in the fourth quarter of 2011 subject to the granting of this right and associated authorisations including the finalisation of geological studies, development and environmental management plans. The company's other earlier stage exploration Projects are its 60% owned Newcastle Phase 2 and Acorn Projects.

Over the longer term, the company proposes to realise the full potential of all of the Projects to provide us with the foundation from which it can seek to expand production and create further shareholder value through the acquisition, exploration and development of coal projects in South Africa.

South African coal has been classified into nineteen separate fields, spread primarily through the provinces of KwaZulu-Natal, Free State, Mpumalanga and Limpopo. Ikwezi currently has three projects situated in South Africa, two in the coastal province of KwaZulu-Natal and one in the inland province of Limpopo situated in the northern part of South Africa. These are as listed as follows.

Newcastle Phase 1 (KwaZulu-Natal)
Newcastle Phase 2 (KwaZulu-Natal)
Acorn (Limpopo)

South Africa has a well developed rail and road infrastructure that connect to the ports of Durban, Richards Bay and Maputo (Mozambique).