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BREAKTHROUGH MINERALS LIMITED — Board/Management Information 2016
Nov 1, 2016
64579_rns_2016-11-01_08410c99-8d3c-40ec-88ba-103671425ec2.pdf
Board/Management Information
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ASX Release
2 November 2016
Company Announcement Officer Australian Securities Exchange
INTRA ENERGY OCTOBER OPERATIONS UPDATE
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Highest ever monthly sales of 29,767 tonnes in October
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Year to Date overburden to coal strip ratio averages 5:1
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New Hitachi excavator commences operations, increasing production capacity
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New Mine Manager and Deputy Mine Manager appointed
Intra Energy Corporation Limited (ASX:IEC) ("IEC") is pleased to advise that its 70% owned Tancoal Energy Ltd ("Tancoal") achieved record monthly coal sales in October. Tancoal is a partnership with National Development Corporation ("NDC") of Tanzania. High quality thermal coal sales amounted to 29,767 tonnes compared with 23,853 tonnes in the previous October. This is despite minimal tonnage into Dangote Cement. Sales have been assisted by the Government policy restricting imports. Sales were also made into Malawi and Rwanda during the month. Further customers are being sought regionally.
Coal prices have increased in conjunction with consultation between the Ministry of Energy and Minerals, the cement industry and Tancoal. Prices have shown improvement but remain below the levels previously achieved.
New contractor equipment has benefited mining operations with 178,154 bcm of overburden removed in October, exposing large blocks of coal in pit. Overburden to coal ratios remain low at an average of 5:1 for the Year to Date.
During October Tancoal signed a MOU with Sinohydro with the intention to develop a 270MW coal-fired Ngaka Power Station adjacent to the minesite.
Finally, Tancoal has appointed David Kamenya as Mine Manager and Edward Misanga as Deputy Mine Manager. Both have played an important role in the mining operations. IEC and NDC are very pleased that the Tancoal mining operations are run to international standards by a wholly Tanzanian Team.
ENDS
Shareholder Enquiries Mark McAndrew Acting Chief Executive Officer Intra Energy Corporation Limited www.intraenergycorp.com.au Registered Office: Level 40, 2 Park Street, Sydney NSW 2000 Postal Address: PO Box 1930, North Sydney NSW 2059
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Tancoal’s new Hitachi excavator at minesite
About Intra Energy
Intra Energy is an environmentally responsible, diversified mining and energy group, focused on Eastern Africa, and is listed on the Australian Stock Exchange (ASX:IEC). IEC is a developer and producer of thermal coal in Eastern Africa operating under the motto of “African coal for African growth” and is the only operating thermal coal miner in Eastern Africa. Its flagship coal project is the Tancoal mine in the Ngaka coalfield of Tanzania, operated by Tancoal Energy Limited, a joint venture with the National Development Corporation of Tanzania.
Intra Energy has made significant progress with its Eastern African regional expansion strategy into new mining and renewable energy projects and battery storage materials, and maintains cost effective and efficient operations to remain a low cost producer in this dynamically growing region where it occupies the prime supply position.