Optimum Coal buys prospecting rights near Koornfontein

South Africa’s fourth-largest coal producer, Optimum Coal, has completed the acquisition of the TNC prospecting rights from Umcebo Mining. The R422-million acquisition, which was settled out of existing cash resources, has unlocked the...

Optimum Coal production performance ‘disappoints’

JSE-listed Optimum Coal’s run-of-mine (ROM) production dropped to 7.441-million tons in the first half of the 2012 financial year, from 8.789-million tons a year earlier. The company on Friday reported a production drop of more than 20% for...

Optimum Coal secures R2.2bn loan facility

JSE-listed Optimum Coal said on Wednesday that a new R2.2-billion debt facility would enable the company to fund near-term capital and growth commitments. The company entered into the revolving credit facility with a consortium of lenders...

Optimum Coal strikes R420m deal to buy prospecting rights

JSE-listed Optimum Coal, South Africa’s sixth-largest thermal coal producer, which has for a while been targeting two prospecting rights in close proximity to its Koornfontein mines, has struck a R420-million deal to acquire those rights. The...