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Rio uncovers 1 billion coal resource Posted: Tue, 05 Feb 2008 [miningmx.com] -- RIO TINTO has boosted its coal reserves in South Africa with the discovery of just over one billion tonnes at its Chapudi venture, situated in the country's Limpopo province. The total resource at Chapudi now stands at two billion tonnes. The UK listed group, which is in the midst of a defending itself after a hostile takeover offer by BHP Billiton, today said the coal resource at its existing Chapudi project holds a resource of more than one billion tonnes. In addition it said through further exploration work it had found an additional coal resource of 1.04 billion tonnes. Chapudi, which lies within what is known as the Limpopo Coal Basin, has been in development since 2003 but the new resource, which the company said would be an open-pit mine if developed, would add significantly to the scale of the operation. The new resource is comprised of bituminous coal and would be targeted at the domestic power generation market, namely contracts with state power utility Eskom. This type of coal is generally not of as high calorific value as the coal exported from South Africa to feed European power stations. Click Here to subscribe to our daily newsletter
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