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White Energy closes in on South Africa deal

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World Coal,

White Energy has made “significant progress” on an agreement that would see the construction of a binderless coal briquetting (BCB) plant at one of the major coal producers in the South African coal market.

According to its 2Q16 activities report, the major commercial terms have largely been agreed with the coal producer but negotiation of the final binding transaction documentation has taken longer than anticipated.

The company expects the process to be concluded “in the near future”, however. This transaction remains the company’s focus, following the removal of its coal beneficiation plant from the Woestalleen Hub site as part of the business rescue plan.

Outside of South Africa, the company’s management is continuing discussions with coal miners in Australia with a view to briquetting discarded coal fines.

These fines currently represent an environmental liability to the mines but “application of the BCB technology could provide an opportunity for miners to convert waste coal fines into a saleable product,” the company said.

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