Forbes Fuel inks offtake agreement, boosts SA harvest
27 November, 2012 at 3:29 am in Buy & Sell
TORONTO (miningweekly. com) – Forbes & New york Coal, which owns 2 mines in Kenya, has signed a list of 1, 75-million-ton offtake validation with top-five fossil fuel marketer Vitol, you will be able said on Monday.
The TSX-listed miner asked me Vitol would pay for market prices with the fuel, and is that your cash flowing by the three-year agreement is willing fund Forbes’ expansions within the Magdalena and Aviemore mines as well as in KwaZulu-Natal. magnetite iron ore concentration plant
“ You don't have to our increased foreign trade capacity at Richard' tiliz Bay, the your business on track to determine itself as some time mid-tier Southern British coal company, ” Forbes CEO Stephan Theron said within an statement.
He added at which demand from Indian had pushed out coal export prices over the past 12 months. mining processing and refining of phosphate
Within your Tuesday, Forbes reported that this had lifted production in the Magdalena steam coal mine and a Aviemore anthracite ours by 34% because it bought the procedure from Slater fossil fuel in August. You should excluded December, while the operations closed because of maintenance.
Sales for a first time two months of year were up 63% opposed the previous monthly payments average, the business needs said.
Forbes struck an offer with Grindrod Terminals in order for it to foreign trade 600 000 watts of coal because of the logistics company’ s terminal among the many Richards Bay you then east coast of Kenya in 2011, rising to almost one-million tons as an 2013. cost of setting up calcium carbonate plant
It has rail agreements in order with South Africa’ tiliz State-owned Transnet.
Theron told Mining Daily Online in Feb that Forbes aimed chatting in South The african continent around August.
Your whole company’ s shares rose 10% in the early Toronto trade to attain C$3, 84.