[miningmx.com] – BEACON Hill Resources, the UK-listed coal miner and development firm, said it had met an important condition for its debt-funding by taking receipt of 90 coal wagons in Mozambique where it operates its Minas Moatize mine.
The wagon were offloaded at Mozambique’s Beira port and will be followed by five rail locomotives from Grindrod in April. The wagons and locomotives help the firm prove its export capability, said Beacon Hill CEO, Rowan Karstel.
“The receipt of our rolling stock in country is another important milestone,” said Karstel who added that ” … an important condition precedent for our debt funding plans for 2014 is now complete’.
