October 05, 2011, Vancouver, British Columbia - Canaf Group Inc. (TSXV: CAF) ("Canaf" or the "Company") the Canada-registered mining group, today announced re-commissioning of kiln 1 and expected trading forecast for its wholly owned subsidiary, Quantum Screening and Crushing (Pty) Ltd., ("Quantum") in South Africa.
Further to the announcement on August 15, 2011, which confirmed the shutdown of operations at Quantum due to a major incident at ArcelorMittal's facility in Newcastle, the Company can confirm that Quantum re-commissioned kiln 1 on October 3, 2011, due to increased orders from ArcelorMittal's plant at Vanderbijl Park and orders for ArcelorMittal's facility in Newcastle expected to re-commence in December 2011, one month earlier than previously anticipated.
The Company is also carrying out major maintenance work to kiln 2 during October as it expects to commission this kiln during November or early December, after which Quantum expects to be running at full capacity once again. The total cost of the refurbishment works is expected to cost in the region or $125,000 and will consist of a full re-lining of the emissions stack and a re-lining of the pre-heater refractory. All refurbishment work is being funded from Quantum's working capital.
Canaf Group Inc. is a junior mining group based in Vancouver, Canada, and with subsidiary offices in the United Kingdom. Canaf owns 100% of Quantum Screening and Crushing (Pty) Ltd., a carbon producing company based in South Africa.
Quantum Screening and Crushing (Pty) Ltd's is one of South Africa's largest producers of calcined anthracite, a product used as a replacement to coke in the manufacturing process of steel and manganese. The company's two largest clients are Mittal Steel and Samancor, world leaders in steel and manganese production respectively. Quantum has an operation in Newcastle, KwaZulu Natal, where its two kilns operate around the clock devolatising the raw material, anthracite. The majority of Quantum's feedstock anthracite is supplied by Springlake Colliery, which has reserves in excess of 25 years and is located in the nearby town of Dundee.
Certain information regarding Canaf contained herein may constitute forward looking statements. Forward looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Canaf believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward looking statements. Canaf is under no obligation to update or alter any forward looking statement. These risks include operational, political, currency and geological risks and the ability of Canaf to raise or obtain funds for its operations. Canaf's forward-looking statements are expressly qualified in their entirety by this cautionary statement.
For further information on Canaf Group, visit www.canafgroup.com or see contacts below.
Canaf Group Inc.
Phone: +44 1273 492100
Fax: +44 1273 492175
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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