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10 Sep 2008 07:00
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STRATEGIC NATURAL RESOURCES plcĀ
10 September 2008
PROJECT INDLOVU FORMED FOR NEW MARKET OPPORTUNITIES
AIM-quoted Strategic Natural Resources plc ("SNR")Ā is pleasedĀ to announce that itsĀ 74% owned subsidiary, Elitheni Coal (Pty) LtdĀ ("Elitheni" orĀ "the Company")Ā hasĀ launched a new projectĀ in South AfricaĀ to meet predicted expansion inĀ theĀ market demandĀ for coal.
ElitheniĀ submitted to the Department of Minerals and Energy on Friday, 5Ā September 2008, a new order prospecting rights application for 119,000Ā ha of private farm and state land within the Eastern Cape coalfields. The area is approximately 60km west of Elitheni's current 60,000 ha prospectingĀ area situated in Gubahoek/Macubeni in the districts of Indwe and Lady Frere, Eastern Cape which is in process, as per its phaseĀ 1,2,3 and 4 prospecting rights and applications.
TheĀ newĀ project has been dubbed 'Project Indlovu' which is the local Xhosa word for 'Elephant'. TheĀ Company has taken the decision to more than treble the potential prospecting area under its control in response to recent discussions and negotiations withĀ IPSAĀ forĀ the offtake ofĀ itsĀ coal as well as in response to pipeline deals theĀ CompanyĀ is working on andĀ hopes to report on in the New Year.
SNR ChiefĀ OperationsĀ OfficerĀ David NelĀ said: "We have named this majorĀ projectĀ after the prized symbol of the Eastern Cape in South Africa, the mighty elephant, as this represents a strong step forward for SNRĀ and ElitheniĀ and quiteĀ coincidentally, the collective area is shaped in the head of elephant.Ā SinceĀ SNR'sĀ listing on AIM last yearĀ we have focused on Exploration andĀ withĀ ourĀ Exploration teams' operationsĀ progressing well, and the commencement of our Mining in AugustĀ this year, we have shifted theĀ Company focus to expanding our markets and being able to meet the potential on theĀ horizon thatĀ we hope to soon report to our shareholders and investors."
For further information contact:
|
Jeremy P Metcalfe, Chief Executive, Strategic Natural Resources plc: |
+44 1303 874 798 |
|
David J Nel, Chief Operations Officer, Strategic Natural Resources plc: |
+27 (0)41 374 0842 |
|
Allan Piper, First City Financial Public Relations: |
+44 20 7242 2666 |
|
Rod Venables /James Reeve, HB Corporate: |
+44 20 7510 8600 |
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