ResGen plan to get Boikarabelo coal project running is fired up
The company said that its subsidiary, Ledjadja Coal, had entered into two non-binding term sheets, being the equity and debt term sheets, with the Government Employees Pension Fund (GEPF), the Unemployment Insurance Fund (UIF), the Industrial Development Corporation (IDC) of South Africa and Noble Resources International.
The GEPF and the UIF are both managed by the Public Investment Corporation (PIC), Africa’s biggest investment vehicle.
Group interim managing director and interim chief executive Leapeetswe “Papi” Molotsane said the announcement was significant for the construction of the mine.
“This marks a significant milestone in the process of securing the funding required to be able to successfully bring the Boikarabelo Coal Mine into operation,” said Molotsane.
Source: iol.co.za
