S. Africa: TerraCom gets 19.9% stake in Universal Coal for $35mln
Thursday, 31 October 2019 11:58
ASX-listed TerraCom has acquired a 19.9% stake in the share capital of Universal Coal, a South African coal company, from Coal Development Holding. TerraCom is spending a total of A$34.6 million in cash and shares for this transaction.
The acquisition provides the company with indirect interests in major coal assets in South Africa. Assets include the Kangala, New Clydesdale, North Block Complex, Eloff and Ubuntu mines.
“Universal’s asset portfolio provides the company with greater geographic diversification and an expanded production footprint,” said TerraCom chairman Wal King.
Universal Coal plans to produce 6.6 million tons of marketable coal this year for all its operations. The company is targeting an EBITDA of A$93 million for 2019.
Live News
-
Royal Air Maroc to Launch Direct Casablanca–Los Angeles Route in June 2026
20:28
-
Africa Leads Global Air Cargo Growth in October at 16.6%
20:19
-
Côte d’Ivoire Imposes New Mandatory Insurance to Regulate Construction Risks
20:14
-
RwandAir Restarts Mombasa Flights to Strengthen Its East African Network
19:48
-
Ecobank Engages Togo’s Council President Ahead of Its 40th Anniversary
16:55
-
Togo's Coastal Resilience Project 82% Complete as Closure Nears
16:49
-
Togo’s Microfinance Network Grows to 63 APSFD Members
16:33
-
Togo’s Kara Region Approves 2024 Statistical Yearbook
15:57
-
New Fund Offers Up to $75,000 in Grants for Urban Innovation in Africa
15:25
-
Egypt’s Taager Expands to Morocco in Continued MENA Push
14:49
Vodacom Tanzania launches M-Pesa Global Payments, enabling seamless international transactions thr...
Kossi Ténou succeeds Badanam Patoki as president of the AMF-UMOA. Ténou brings over 20 years of e...
Camtel to launch Blue Money in 2026, entering Cameroon’s crowded mobile money market led by MTN Mo...
JA Africa launches $1.5M digital safety program in four African countries Initiative to ...
Francophone Sub-Saharan Africa hosts 860+ startups but faces deep structural weaknesses EY urges...
RAM will open a nonstop Casablanca–Los Angeles service on June 7, 2026. The route targets diaspora travelers, tourists, business passengers, and World...
Africa posts the world’s strongest October air cargo growth at 16.6%. Global volumes rise for an eighth month, supported by higher trade and...
RwandAir restarts direct Mombasa flights after five years Service operates four times weekly as part of a wider growth plan Kigali strengthens air...
( AGL) - On 21 November, Yiri by AGL (the innovation centre of the Africa Global Logistics - AGL group) and Digital Africa (a subsidiary of Proparco, AFD...
Niokolo-Koba National Park, designated both a Biosphere Reserve and a UNESCO World Heritage Site, is one of the ecological treasures of Senegal and all of...
Hidden deep within the Arabuko-Sokoke Forest on Kenya’s coast near Malindi, the ancient city of Gedi stands as one of East Africa’s most intriguing...