Offtake Agreement South Africa

“We are pleased to announce the offline agreements and will offer and introduce layers of support to farmers. It is important that offline agreements essentially remove barriers to farmers entering new global markets. Vitol created a coal presence in 2006. Over the past five years, it has quickly become one of the five largest coal distributors in the world. In 2010, Vitol marketed more than 20 million tonnes of physical coal through long-term contracts in Australia, Colombia, South Africa and the United States, as well as pre-financing agreements in Indonesia, Russia and South Africa. In South Africa in particular, Vitol has branches in Johannesburg and Cape Town and currently supplies products from Richard`s Bay Coal Terminal and Maputo to supply and industrial customers, both in the Atlantic and Pacific, through long-term OVER-the-counter agreements. Vitol works closely with junior mining companies in South Africa, helping to pre-finance and provide logistics solutions. More details about Vitol on www.vitol.com cash flow of this acquisition agreement will finance the continued commissioning of production at its two operational mines, Magdalena and Aviemore. The agreement first has a period of looting and will support the production expansion plans already announced. Based on future estimates, Al Mawashi stated that take-take agreements allow preferential supply of 25,000 to 75,000 sheep worth R90 million to R90 million over the next three years, provided farmers meet live export specifications. Mc Mining has secured with Huadong Coal Trading Center Co, Ltd, a Chinese state-owned company, a first three-year start-up phase for at least 0.4 Mtpa Phase 2 HCC.

HDCTC has logistics interests and mass goods and has been traded over the past two years with more than 5 million tonnes of iron ore and coal, requiring that approximately 50% of Phase 2 HCC also be subject to wear and tear agreements. Mandisi Nofumba, who raises sheep in Richmond, In the Northern Cape, said: “We need more opportunities like this, which offer emerging farmers the opportunity to grow and market their businesses. At some point, we will have to invade the emerging peasant phase and join the big league of commercial agriculture. This agreement will allow me to develop my business and has opened up new avenues for us. With the Agreement of Al-Mawashi, we are also busy developing a training centre in Richmond, Northern Cape Province, where the focus will be on training youth in the agricultural sector. “The signing of the Phase 1 HCC-Offtake agreement with AMSA is an extremely positive step for Makhado. MC Mining is now capable of becoming South Africa`s excellent producer of highly metallurgical coal, and Makhado coking coal will partially replace the currently imported coking coal.┬áThe agreement confirms the quality of Makhado`s HCC and follows the announcement of a launch with one of the largest producers and distributors of sea coal for all thermal coal by-products to be produced by Phase 1.