Minergy Ltd. produced first salable coal at its Masama mine in Botswana, which has been exported to South Africa and Namibia.
CEO Morné du Plessis said the company has extracted about 39,000 tonnes from the mine since July and plans to ramp up production to 100,000 tonnes per month by 2020.
The company said Aug. 7 that it expects to reach a steady state of operations in September and is exploring various options for off-take, ranging from longer-term agreements to spot deals.
Additionally, Minergy raised funding of 90 million Botswanan pulas from the Botswana Development Corp. Ltd and the Minerals Development Corporation of Botswana, which is sufficient to bring the mine into production.
Masama is Botswana's first privately owned mine and one of only two operating coal mines in the country, according to a Reuters report.
As of Aug. 6, US$1 was equivalent to 10.91 Botswanan pula.