Universal Coal is committed to building a mid-tier coal mining company that provides investors with exposure to thermal and coking coal assets with the potential to develop into mines of regional significance, with sustained production and cashflow.
Universal Coal has 1.99 billion tonnes (gross in-situ before losses) of JORC-compliant coal resources across five projects in South Africa; three, low-cost, high-margin thermal coal projects in the Witbank coalfield (Kangala, Roodekop and Brakfontein) and two highly prospective coking coal assets (Berenice-Cygnus and Donkin-Somerville) in the emerging Soutpansberg and Tuli coalfields.
The company’s initial focus is the Kangala project, which currently hosts 146.8 million tonnes (gross in situ before losses) of JORC compliant measured, indicated and inferred resources. Construction of the mine commenced in May 2013 and first coal sales to the South African electricity utility, ESKOM, was completed in April 2014 – on time and within budget. The Kangala Mine will produce 2.1 Mt of saleable coal annually from a proved reserve of 21.55Mt. The additional resource base at Kangala potentially allows for a total mine life exceeding 20 years by means of developing a series of similar sized adjacent pits.
The company aims to bring its other thermal projects into production ramping up to a combined total of 4.5-6.0Mt per year ROM production of export and domestic coal.
This will be achieved by taking advantage of the management teams’ mine development skills and experience, demonstrated by the successful commissioning of the Kangala Mine. The acquisition of contiguous areas to the company’s thermal coal projects together with the development of the substantial coking coal projects within South Africa’s emerging Soutpansberg coalfield significantly enhances the growth strategy.
Vision: To be a premier coal company, optimising value to all stakeholders.
Mission: We acquire, develop and operate quality coal projects maximising returns through optimisation and growth, becoming a partner of choice.
Values: Our values are the foundation on which the company was established and continues to operate, they are:
- Honesty, transparency and respect
- Maintaining excellence in health, safety and environmental standards & social responsibility
- Growing shareholder value