ASX-listed Resource Generation (Resgen) confirmed on Thursday that it had received a commitment from a lender to table a funding proposal prepared by the deal team for credit committee approval.

Resource Generation kicked on with the development of Boikarabelo, a large thermal coal deposit in the Limpopo province, by signing $310m (R4.1bn) in contracts and securing more funds from Noble Group, the Singaporean commodities trading company.

ASX-listed Resource Generation (Resgen) has executed three separate contracts for its Boikarabelo coal mine, in South Africa.