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
-
OPEC+ Holds Output Steady Into 2026 Despite Market Volatility
08:34
-
Zambia Turns to Solar Power to Cut Reliance on Hydropower
06:35
-
DRC Partially Lifts Suspension on Artisanal Copper-Cobalt Processing in Lualaba
03:31
-
Malawi Implements Free Public Secondary Education from 2026
19:50
-
Togo Registers 14,202 New Firms in 2025, Down from 2024
19:27
-
Cameroon Cuts Annual Forest Fee by Up to 35% to Promote Sustainable Logging
19:23
-
Douala Awards Genelcam a CFA954 Million Contract for Waste Collection from 2026
19:12
-
SNH Appoints New Management Team to Revive Hydrac
19:09
-
Cameroon Turns to AFG Bank to Refinance CFA50 Billion in State Arrears
16:09
-
Togo Seeks Faster Farm Exports With New UEMOA-ECOWAS Guide
15:51
The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...
Togo passes new law tightening anti-money laundering and terrorism financing rules Legislat...
Creditinfo licensed to operate credit bureau across six CEMAC countries Bureau to collect b...
Nigeria confirms tax reform takes effect Jan. 1, 2026 despite opposition PDP alleges illegal inse...
Gabon names Thierry Minko economy and finance minister in Jan. 1 reshuffle Move follows tra...
OPEC+ kept production targets unchanged for January–March 2026. Eight core producers account for more than half of global oil supply. The IEA expects...
Zambia launched or advanced more than 385 MW of solar projects between late 2025 and early 2026. Authorities commissioned or started construction of...
The mines minister partially and temporarily lifted the suspension on artisanal copper-cobalt processing entities in Lualaba. A compliance review found...
Malawi abolished public secondary school fees nationwide from January 1, 2026. The government removed exam and school development fees, which the state...
The Vodun Days are a major cultural event held in Benin to celebrate, promote, and raise awareness of vodun, an ancestral religion deeply rooted in the...
Each year around 2 January, the streets of Cape Town host the Cape Town Minstrel Carnival, also known as Kaapse Klopse. Rooted in the nineteenth century,...