South African coal producer Universal Coal has stated that it expects its two early-stage coking coal exploration projects located in South Africa's Limpopo province to attract increasing interest from investors in 2012.
According to the company statement, first phase drilling at Berenice-Cygnus in Soutpansberg Coalfield near the Mozambique and Zimbabwe borders revealed JORC resources of 1.3 billion mt. A second phase of drilling is scheduled to begin in early 2012.
Additionally, Universal Coal stated that the Berenice-Cygnus project is likely to become a 10-15 million mt run of mine operation by 2015, provided that all regulatory approvals have been given.