https://www.miningweekly.com

Menar hopes to expand through $28m Kangra Coal buy

1st August 2018

By: Creamer Media Reporter

     

Font size: - +

Mining investment company Menar Holding plans to acquire a 70% stake in Kangra Coal, which owns assets in Mpumalanga and KwaZulu-Natal, from Madrid-listed Gas Natural Fenosa for $28-million.

If approved, the acquisition will add to Menar’s growing portfolio and diversified geographical location of assets.

Menar owns Zululand Anthracite Coal.

“We have the right set of skills and a proven record to operate coal mines in challenging environments. We have cultivated these over many years and we are confident that this acquisition is in the best interest of all stakeholders,” commented Menar MD Vuslat Bayoglu.

He added that the acquisition would provide Menar access to a strategic stake in the Richards Bay Coal Terminal (RBCT).

Kangra owns a 2.3% stake in RBCT and has a right to export a total of 1.6-million tonnes a year of coal.

Izimbiwa Coal Investments owns the remaining 30% in Kangra.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

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