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
-
Norwegian firm BW Energy’s entry into Angola’s oil sector faces a legal hurdle
16:59
-
South Africa Deepens Economic Ties With China Amid U.S. Tariff Dispute
16:51
-
South Africa: Sibanye-Stillwater Secures Long-Term Renewable Power for Its Mines
16:23
-
World Bank reviews Burkina Faso digital projects as 2026 rollout accelerates
20:14
-
Cameroon’s microfinance sector counts 385 licensed lenders, with CFA659bn in loans
19:12
-
U.S. tariffs hit Cameroon exports, revenues fall to CFA38bn
19:08
-
Cameroon roads budget faces CFA84bn gap as works spill into 2026
18:49
-
Tunisian Entrepreneur Ridha Mami Targets Sales Productivity With AI
16:47
-
Rwanda Expands Zipline Partnership to Build National Drone Network
16:45
-
Mohamed Hassan Hijazi Builds All-in-One Platform for Beauty Industry
16:43
Except for Tunisia entering the Top 10 at Libya’s expense, and Morocco moving up to sixth ahead of A...
Touted as a tool of emancipation, blockchain was meant to give the Central African Republic a new fo...
Visit scheduled from February 4 to 6, 2026, at the invitation of President Hakainde Hichilema Tal...
The BCEAO granted Semoa a level-3 “full service” payment institution license on January 27, 2026...
Royal Air Maroc signed a deal with DAE to lease 13 Boeing 737-8 aircraft. Deliveries are schedule...
BW Energy’s Angola offshore entry faces partner preemption notice Partner may exercise right of first refusal on Blocks 14, 14K Deal with Azule Energy...
South Africa, China sign trade cooperation deal at JETC meeting Agreement targets duty-free access, investment, higher-value South African...
Etana signs 10-year renewable power deal with Sibanye-Stillwater Agreement supplies up to 220 MW via wind, solar from 2027 Deal reflects growth in...
World Bank assesses progress on PACTDIGITAL and WURI programs Midterm review highlights coverage of 750 digital white zones 2026 roadmap focuses on...
The Pan African Film & Arts Festival (PAFF) will run from February 7 to 22, 2026, in Los Angeles, positioning itself as a major soft power platform for...
More than 100 Senegalese artists publicly urged President Bassirou Diomaye Faye to impose sanctions on Israel over the Gaza conflict. The artists...