https://www.miningweekly.com

Sentula terminates Benicon Coal sale

Sentula CEO Robin Berry

Sentula CEO Robin Berry

Photo by Duane Daws

12th September 2014

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

Font size: - +

JOHANNESBURG (miningweekly.com) – JSE-listed Sentula Mining has withdrawn its cautionary after discussions for alternative options for the disposal of its Witbank-based Benicon Coal asset were unsuccessful.

This followed the lapse in the sale agreement to Miranda Mineral Holdings after certain conditions were not met in time.

Sentula and Miranda had embarked on discussions for alternative options to facilitate Miranda’s participation in the opencast mining-focused Benicon Coal.

Sentula on Friday announced that it remained committed to shedding the asset but had now terminated the deal after the discussions failed to lead to any binding commitments.

JSE-listed Miranda, in conjunction with black women-owned Mochiba, in February announced that it planned to acquire 100% of the issued share capital of Benicon for a nominal R1 000.

Another R150-million was to be paid to Sentula in terms of loan facility agreements between Sentula and Nkomati Anthracite, which operated a mine in eastern Mpumalanga, in which Benicon Coal held 60%.

Edited by Tracy Hancock
Creamer Media Contributing Editor

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.113 0.161s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: