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Petmin
Posted: Fri, 03 Aug 2007
[miningmx.com] -- PETMIN announced the granting of a new order mining right over Area 1 of its Somkhele anthracite mine near Richards Bay which would allow for "a substantial increase in production," the company said.
Production from the mine's Area 2 would be increased to about 835,000 run-of-mine tonnes, a 67% increase over its original target of 500,000 tonnes. About R28m would be spend to increase production, Petmin said.
Petmin also renewed a cautionary announcement saying the company continued to be involved in negotiations that could have a material effect on its share price.
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