Bisichi getting busy, Black Wattle booming

Bisichi Mining, the South Africa-focused coal mining company, has seen its shares shoot up 7.27% after announcing production at its Black Wattle Colliery has "significantly" improved.

Average production for the nine months to September was at 135,000 metric tonnes, compared to 110,000 for the first six months.

Bisichi also says it is experiencing strong demand for its product both domestically and for export and that an improved performance from South Africa's state railway has "ensured our stockpiles have remained at acceptable levels".

Try 6 free issues of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

The firm also says income from its UK property portfolio remains "steady".

At 11:45 the stock was up 10p at 147.5p

BS