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Africa One Capital Acquires Group R Mining & Exploration Ltd

26th September 2013

By: Creamer Media Reporter

  

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One Core Mining Services  (0.04 MB)

The Africa One Core Mining Services, a fund ran by Africa One Capital PCC of Mauritius, announced that it has signed high level agreements for the acquisition of Group R Mining & Exploration Ltd, a Pan-African mechanized mining contractor. The purchase will allow Group R to expand its operations throughout Africa whilst it provides the fund with stable, measureable and a growing medium term income stream in excess of USD 110 Million.

The equity purchase of Group R Mining & Exploration fits into the Funds investment strategy to provide its investor’s access to larger profitable assets that are not readily available armchair or institutional investors. One of the features of this transaction is the appointment of the Directors of the Company to a special Technical Advisory committee within the fund, thus leveraging nearly a century of combined mining experience across the African continent for the advantage of the investors.

“This acquisition provides the fund with a key asset to leverage throughout its ambitions in Africa. With a contractual revenue stream in excess of USD 110 Million and a tender pipeline that will be the envy of many similar operators this acquisition is poised to add phenomenal value to the fund’s investors” says John Fogwell, Investment Manager for Africa One Capital. “ With the massive skills shortage in Africa, acquiring such a strong team of operators is a long term advantage that will show its value in the years to come.
More about Africa One Capital PCC

Africa One Capital PCC is a board-managed expert fund, regulated as a Collective Investment Scheme under the Mauritian FSC. Africa One was founded to indentify, exploit and leverage the plethora of business opportunities available in Africa. Africa One primarily aims to provide institutional and armchair investors with the opportunity to invest into larger unlisted equities in Africa providing investors stable, above average growth whilst still enjoying liquidity not normally associated with private equity investments.
For more information kindly visit: www.africa1capital.net

More about Group R Mining & Exploration Ltd
Group R is a Seychelles registered Pan-African mining company. Its board is a group of well respected mining operators across the African continent. Group R commenced their African operations with a turnkey underground development and mining contract in Mali on behalf of Randgold Resources. Since then they have grown into a key role player in mechanised underground mining in Zambia and is busy setting up their Botswana operations.
Group R was recently featured in Mining Weekly when they were awarded the Konkola Copper Mines contract in Chillilabombwe in Zambia.
For more information on Group R Mining & Exploration kindly visist www.grouprmining.co.za

Edited by Creamer Media Reporter

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