KaNgwane Anthracite Project (Makunyula Mine), Mpumalanga

Main Street 800 (Pty) Ltd (in business rescue) | Permitted, low-sulphur export anthracite project close to the Port of Maputo

The Business Rescue Practitioner of Main Street 800 (Pty) Ltd invites qualified mining companies, investors and consortia to submit expressions of interest to acquire the business and assets of the KaNgwane Anthracite Project, including its mining right, under the adopted business rescue plan.

200 Mt
Measured resource (GTIS), SAMREC/JORC, 2012 CPR

19.3 Mt
ROM reserve, southern farms (17.4 Mt Proven)

10.9 Mt
Saleable anthracite over life of mine

THE ASSET

Location: Nkomazi area, Mpumalanga – about 110 km east of Mbombela and 130 km north-west of Maputo, with road access to Maputo and Matola ports

Mining right: MP 482 MR for coal over 7,061 ha (seven farms), granted under section 23 of the MPRDA, valid to 25 April 2038 and registered in February 2023

Water use licences: two issued under the National Water Act – February 2022 (25 years, opencast and underground operations) and November 2024 (12 years, North opencast pit)

Status: box cut opened; in business rescue since 7 June 2023. As the company does not have a processing plant, the interim post-commencement finance (PCF) arrangement concluded by the BRP provides for the mine to commence operations and sell run-of-mine (ROM) coal under an offtake arrangement. The offtake arrangement provides for early termination once a successful bidder has been secured

Mine plan: 1.2 Mtpa ROM from two opencast pits, then underground from highwall adits; about 20-year life; 200 tph dense-medium wash plant

Product: metallurgical anthracite averaging about 16.8% ash, 27.5 MJ/kg CV, 0.28% sulphur and 75% fixed carbon, aimed at export markets

Upside: the mining right now also covers the northern farms excluded from the 2012 reserve, which hold a further 14.1 Mt ROM (unclassified in 2012)

HOW TO RESPOND

The Process Letter and supporting documents can be downloaded from 27 October 2026 at opisadvisory.co.za/investment-opportunities.

To qualify for data room access and Phase 2, parties must:

• sign the confidentiality agreement; and
• show the operational and financial capacity to implement the transaction.

Process: qualifying parties proceed to desktop due diligence and non-binding offers; shortlisted bidders then complete final due diligence and submit signed binding term sheets with proof of funding.

Expressions of interest close on Friday 29 January 2027

Technical information is summarised from the Bankable Feasibility Study prepared by RSV ENCO Consulting (December 2012) and is historical and indicative only; permitting details are from mining right MP 482 MR (registered 23 February 2023) and water use licences 05/X13J/ACFGIJACGI/11220 and 05/X13K/ACGIJ/15631. Interested parties must rely on their own investigations. This notice is not an offer; the Business Rescue Practitioner may amend, suspend or terminate the process at any time without liability.

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