[miningmx.com] – JSE-listed Petmin said it had agreed to roll-over prices of anthracite for the current financial year with its major customer in South Africa owing to depressed market conditions. It also said international prices were under pressure.
“The export market for anthracite remains soft with downward pressure on prices,’ the company said. Petmin, which operates the Somkhele anthracite mine in KwaZulu-Natal province, said it produced 822,431 tonnes of anthracite in its 2013 financial year (2012: 637,220 tonnes).
Petmin added that Somkhele had budgeted to produce and sell about 1mt of anthracite and 390kt of energy product in its 2014 financial year. The energy product is sold as a blend and comes after a R62M ($6.2M) investment in a third plant.
