Corsa to focus on met coal as it exits thermal coal market
JOHANNESBURG (miningweekly.com) – TSX-V-listed Corsa Coal is selling its thermal and industrial coal division Central Appalachia (CAPP) to a buyer group led by CAPP's current management team.
"The sale of our CAPP division will allow us to dedicate all of our corporate resources to the metallurgical (met) coal market where we believe we can achieve the highest rates of return on investment," CEO George Dethlefsen said on Wednesday.
Corsa’s focus going forward is to aggressively increase its met coal production, maximise value-added services activity and continue to grow its met coal sales and trading platform.
The CAPP division's current operations include the Cooper Ridge Deep underground mine and the Valley Creek and Buffalo Creek surface operations.
As purchase consideration for the division, the buyer group will assume certain debt, leases and future costs, including end-of-mine closure costs, which have been estimated at about $8-million.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation