Ikwezi Mining is a resource exploration and development company aiming to create Shareholder value through the acquisition, exploration and development of coal projects in South Africa. Our Group is focused on advancing the development of coal projects in the KwaZulu Natal, Limpopo and Mpumalanga regions of South Africa.
We hold prospecting rights and majority interests in these projects, the most advanced of these being our 70% held Ntendeka Colliery with a JORC compliant resource of 294 million tons of coal. Our mining right for this particular project (Newcastle Phase 1) was granted in February 2012. Development of this particualr project is well underway along with obtaining the associated authorisations relating to the project. We have other earlier stage exploration projects in the form of our 60% owned Dundee (Newcastle Phase 2), Acorn and Assegai Projects.
Over the longer term, we propose to realise the full potential of all of the Projects to provide us with the foundation from which we can seek to expand production and create further shareholder value through the acquisition, exploration and development of coal projects in South Africa.