South Africa: Rio Tinto sells 74% stake in ZAC to Menar Holding
Monday, 05 September 2016 16:18
Anglo-Australian group Rio Tinto has successfully sold its 74% stake in the Zuzulan Anthracite Colliery (ZAC) Mine in South Africa to Menar Holding for an undisclosed amount.
Rio Tinto said its remaining stake (26%) in the mine will remain in the hands of its partner Maweni Mining Consortium, which is owned by the black community as part of the Black Economic Empowerment initiative.
Situated in the Northern part of Kwazulu-Natal, ZA C is an underground mine that provides high quality anthracite to nationals and international buyers.
Menar Holding is popular for its experience in terms of exploitation and investment in South Africa via its majority stake in Canyon Coal which owns multiple coal mines at Mpumalanga and Gauteng.
Louis-Nino Kansoun
Live News
-
African cotton producers meet in Lomé to tackle productivity challenges
18:41
-
Cameroon Suspends Fuel Shipments From Importers Over Payment Disputes
18:18
-
Cemac Seeks to Bring Informal Cross-Border Trade Into Official Data
16:45
-
In Bertoua, a Little-Known French Firm Eyes Entry Into Energy Projects
16:05
-
Côte d’Ivoire Launches EMY 101 AI Chatbot for Public Services
15:54
-
Happy Pay Founder Wesley Billett Promotes Interest-Free Installment Payments
15:46
-
Togo introduces new framework for forestry sector permits
14:57
-
Togo-Ghana border post at Noépé-Akanu upgraded to ease trade flows
14:46
-
Togo’s non-financial market services rise 13.6% in December
14:35
-
Nimvi Express Targets Last-Mile Delivery Gap in Chad
13:59
Telecel Ghana to boost network investment by 150% in 2026 Expansion targets capacity, reliabi...
CCR-UEMOA presents mid-term review of private sector competitiveness efforts Reforms, AfCFTA trai...
Togo parliament adopts WAEMU law against currency counterfeiting Bill defines offences including ...
BOAD plans 750 billion CFA francs financing for Burkina Faso Funds to support key sectors and Rel...
Yassir moves into media distribution in France with the acquisition of Paris-based adtech firm Kaw...
Cameroon banana exports jump 36% to 27,674 tons in January Growth driven by French group subsidiaries PHP and CDBM Compagnie Fruitière dominance to...
Nigerian insurers Guinea, Sovereign Trust seek 10.8bn naira capital Guinea launches rights issue; Sovereign Trust awaits NGX approval Raises aim meet...
Djibouti receives a $35 million grant to expand rural access to drinking water The project will benefit over 120,000 people and strengthen...
DeAfrica is training 1,068 participants from 45 African countries in AI The program aims to prepare youth for a fast-evolving AI-driven economy The...
Event highlights growing role of diaspora entrepreneurs across multiple sectors Networks support trade, investment and SME...
Afreximbank launches Impact Stories season two highlighting trade-driven transformations Series features projects across Africa and Caribbean, from...