South Africa-based miner Coal of Africa has stated that its Makhado coal project in Limpopo Province of South Africa has the potential to produce 2.3 million mt per year of hard coking coal and 3.2 million mt per year of thermal coal, adding that it is ready to become "a significant global hard coking coal and thermal coal producer".
According to Coal of Africa, the capital expenditure for the Makhado projects will amount to ZAR 3.96 billion ($387 million). The Makhado mine has a net present value of ZAR 6.79 billion ($663.5 million). The regulatory approvals and the funding are expected to be completed by the first half of 2014.