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BISICHI MINING PLC

Annual Report


The permanent infrastructure improvements at Black Wattle will have a positive impact on the returns achievable from our existing coal reserves and should open up new opportunities to mine similar coal reserves in the surrounding area. Accordingly, we remain confident about the ability of our South African coal mining operations to continue to contribute to our group earnings and cash generation for the foreseeable future.

A fuller explanation on the performance of our mining operations for the year can be found within the Mining Review and Financial & Performance Review sections of this report.

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Company Overview


Bisichi Mining PLC is a fully listed mining company and its principal activity is coal mining in South Africa. The group is a controlling shareholder in Black Wattle Colliery, a coal mining and coal washing operation situated in Mpumulanga, South Africa. The groups' strategy is to create and deliver long term sustainable value to its stake holders through the acquisition and investment in new mining operations in South Africa as well as through the development of its existing operations. In addition to its mining activities, the group seeks to balance the high risk of mining with a dependable cash flow and capital appreciation from its UK property investment operations. The group invests in retail property across the UK and owns a portfolio of retail property currently worth some £14m.

Sir Michael Heller, Chairman. Andrew Heller, Managing Director.