News blog
Watermark Global
- BY: Andrew Hore |
- POSTED: 11/05/2011 |
Acid mine drainage treatment services provider Watermark Global is still waiting for the South African government to make up its mind on what it will do to treat acid mine drainage in the Witwatersrand.
It still hopes that a short-term decision and the long-term tender will happen in 2011. Tans-Caledon Tunnel Association has been appointed by the government to put in place a short-term solution.
Acid mine drainage is an ongoing problem in the Witwatersrand and it will not go away.
The South African government released a report entitled “Mine Water Management in the Witwatersrand Gold Fields with Special Emphasis on Acid Mine Drainage” during February. That was a year after Watermark’s subsidiary Western Utilities Corporation submitted its initial solution for acid mine drainage.
Watermark intends to publish its 2010 figures in the last week of May.
At 0.47p a share, Watermark is valued at £4.56m. The company continues to have to keep close control of its remaining cash while it waits for the government’s decision.
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