Estima is a coal project owned by Eurasian Resources Group (ERG) and is located in the Lower Zambezi Basin, south of the Zambezi river. The mine's ownership changed from Eurasian Natural Resources Corporation (ENRC) after a management bid to take the company private. Estima’s coal resources are covered by the 6127C exploration licence. We have removed a forecast start date for the project due to weaker market demand and significant uncertainty around development of the mine and new rail and port infrastructure. Cost assumptions were last updated in Q4 2014.