Boikarabelo first coal target slips as Resgen aims for March financial close

Dual-listed Resource Generation (Resgen) has pushed back the expected date of first coal production from its Boikarabelo mine in South Africa’s Waterberg region, as talks with potential financiers to secure the best funding package continue. The emerging producer in August entered into a R5.52-billion funding agreement with a financing syndicate, including Rand Merchant Bank, the Public Investment Corporation, the Industrial Development Corporation and Noble. It has since been working towards fulfilling the conditions precedent and said on Friday that it hoped to achieve the required internal credit committee approvals by mid-December.