[miningmx.com] – AUSTRALIAN junior miner, Universal Coal, said it had signed an offtake agreement with Exxaro Resources in which it would sell the South African firm up to 100,000 tonnes a year of export quality coal.
Production would be from Universal Coal’s first operational coal mine, Kangala, which is located in the Witbank coalfield in Mpumalanga province.
“With domestic sales of 2 million tons per annum to Eskom, and export allocation through Richards Bay Coal Terminal already secured, Universal Coal has finalised the API4 price linked coal sales agreement with Exxaro for the higher quality thermal product,” it said in an announcement.
