Grid power reduces mine development project by R1.01B

"Subject to securing debt funding, the capital saving will reduce the amount of equity funds required," Resgen managing director, Paul Jury says. The company's target of beginning coal production early in 2015 will be met, should South African power utility Eskom make good on its commitment to supply sufficient power for stage one of the mine's operation after the first generating unit at its new Medupi power station becomes commercially operational, by 2014, ESI-Africa reports.

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