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Full Disclosure 2016

Company overview

Wescoal Holdings Limited (Wescoal) is a coal mining and trading company listed on the Johannesburg Stock Exchange. It was formed in 1996 and presently has 196 employees.1

Wescoal Holdings engages in mining through its subsidiary Wescoal Mining (Pty) Ltd, which operates three mines and a processing plant in Mpumalanga, in the Delmas, Ogies, eMalahleni and Middelburg areas.

The Khanyisa Colliery is located 10km west of Ogies, near the Kendal Power Station. Mining has not yet begun at this site. The mining right for the site was transferred to Wescoal in March 2015 and the complex has since been on “care and maintenance” while Wescoal completes other necessary legal processes.

The Intibane Complex is located 14km west of Ogies in Mpumalanga. Mining has not yet begun at this site, however Wescoal states that its Water Use Licence was awarded in December 2015 and all of its legal permits are in place.

The Elandspruit Colliery is located 8km west of Middelburg.  The open-cast and underground mining operations at Elandspruit commenced in July 2015. In August 2016, Wescoal finalised a five year coal supply agreement with Eskom.2 The commencement date of the agreement is 1 November 2016, at the conclusion of Wescoal’s current short term supply contract with Eskom.

Wescoal’s subsidiary Wescoal Trading (Pty) Ltd distributes coal to industries throughout South Africa. Wescoal has depots in Isando, Pretoria, Worcestor and Bellville, as well as a coal handling facility at Stanger.