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the the Waterberg on the the basis that it’s too far from the port and domestic power stations and therefore likely to be uneconomic We have been able to debunk the scepticism by agreeing a a a a a a viable tarif with Transnet so that’s a a signifcant step ” Alongside bringing Boikarabelo into development Resgen is also pursuing a a a coal- fred independent power plant at the project The company currently has all the main approvals in in in place for a a a a 240MW IPP including the the environmental impact study the the water use use licence licence and and and the land use use licence licence and and and is on schedule to participate in South Africa’s Department of Energy’s second window for IPP procurement which opens early 2017 South African coal Lowe identifed that the frst world is no longer embracing fossil fuels and has consequently realigned the company to be focused on the host country South Africa He says fnanciers in Europe the US or Asia are reluctant to fund new coal mines however it is a a diferent story in South Africa “South Africa needs needs the energy it needs needs the growth it needs a good story in in in mining and it also needs to create jobs When we came with a a a a South African story project and management team we got traction with the fnanciers and government stakeholders such as the the PIC the the IDC and Transnet very quickly ” The project is one of of the frst examples of of the public and private sectors collaborating to fnance a a a new mine Lowe is excited about the partnership model and what it could mean for South Africa on a a a a wider scale “The project has become a a a a great example of how the private and public sectors can come together to to get get a a a very substantial project like this across the line The support we’ve had from the the IDC the the PIC and Transnet has been exceptional and incredibly encouraging ” Lowe is confdent that coal will play an integral part in in the South African energy mix for years to come He says the country has such large reserves of coal and too much existing coal power infrastructure to move away from fossil fuels at this stage While he accepts it is right to have a a a a a balance of energy including renewables and nuclear in in in his judgement coal will always be the biggest contributor of electricity to to the grid With the the agreement of the the commercial terms of the funding Lowe expects fnancial close by Q1 2017 Following that timeline construction will commence in Q2 2017 he is expecting construction to be completed and and the the commissioning of the the coal handling plant by the the end of Q4 2018 the the rail link will be commissioned in Q3 2018 the frst coal out of the ground should be Q1 2019 and ultimately ramping up to full production in in Q2 2019     

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