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ASX-listed energy resources company Resource Generation has begun with construction at its Boikarabelo coal project in the Waterberg region, with the site now being classified as an operating mine site.

Initial activities include site infrastructure, road works, and water and power connections, while further geotechnical boreholes are also being drilled across the initial mining area, which has probable reserves of about 744.8 Mt of coal on 35% of the tenements under its control.

The company, which announced in December last year that it had agreed to a terms sheet with the mandated group of financiers regarding funding of the Boikarabelo project, said that it did not anticipate any significant delays in the completion of the credit approval process.

Resource Generation noted that due diligence investigations were completed by the independent technical, market, legal and other consultants engaged on behalf of the financiers and that it continued to assist the financiers with enquiries arising from the approval process.

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