Jindal Mining SA (Pty) Ltd reports cash profits and Company out of Business Rescue process.
Nov 19, 2019
JMSA had entered into Voluntary Business Rescue in June 2018. The decision was driven by the objective of protecting the interests of its various stakeholders and with a long-term vision of turning it profitable & sustainable. As part of the Business Rescue process, the company engaged with stakeholders to restructure the liabilities (both Operational and Financial), increase production and cut costs to make the business profitable in the long run.
The operations at JMSA are now stable and ramping up well. While the company still needs to adhere to its commitments in the Business Rescue Plan, the indications are highly positive. Jindal Mining SA hereby thanks all its stakeholders for their assistance and cooperation in making the business Rescue process a success.
Jindal Mining SA (JMSA, acquired in 2009) has an underground coal mine in South Africa – Kiepersol. Kiepersol Colliery (Kiepersol Colliery or Kiepersol) comprises a Mining Right for coal over a total area of 2,453.2 hectares (ha) located in the Mpumalanga Province of South Africa.
Kiepersol Colliery remains a prominent producer of high quality anthracite and lean bituminous coal, which is sold on both the domestic and international metallurgical coal markets, and is all made possible with a dedicated private railway siding which forms part of the company’s infrastructure, which in turn enables the mine to dispatch orders directly to clients and to the ports for exports thereby maintaining the high quality service and delivery standards its clients have become accustomed to. The South Africa mine also has a 1.20 MTPA wash plant that allows us to produce various high-grade metallurgical products for the local and international markets.
The anthracite coal from the colliery has low sulphur and phosphorus content and the mine is a supplier to ferroalloy manufacturers in South Africa and abroad, to customers in the Middle East, India, Europe and China. Private railway enables the mine to dispatch orders directly to customers and to shipping ports for export.
Kiepersol Colliery - Highlights
- Location: Kiepersol Colliery is situated 35km southwest of the town of
- Piet Retief, Mpumalanga, South Africa.
- Logistics: - Captive Railway Siding - close to the mine
- Acquisition: July 2009 (~74% ownership)
- Reserve: 22MT (Proved)
- Wash Plant: Two-stage wash plant with a capacity of 1.2 MTPA
- All equipment for mining, washing and transport are owned in-house
- Infrastructure owned includes main and site offices, stores, workshops, clinic, training centre and guest houses in Piet Retief.