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
-
Egypt and Thailand Deepen ICT Cooperation at Cairo Networking Event
15:27
-
EdgeNext, iXAfrica Partner to Accelerate Digital Infrastructure Growth in East Africa
15:23
-
CMOC completes acquisition of Cangrejos Gold Project, marking strategic entry into gold sector
14:38
-
Access Bank Cameroon Signs Landmark Dual Partnership with the United Councils and Cities of Cameroon and the UCCC Foundation
14:14
-
Togo’s Public Sector Wage Bill Hits CFA83bn in Q1 2025, Up 18%
13:43
-
Algeria Targets 20,000 Startups by 2029 Through University Incubators
10:37
-
Cameroon Customs Seizes Record 45 Kg of Cannabis Smuggled from Nigeria
10:08
-
China Eyes Malawi Mining in $7bn Deal, But Doubts Remain
10:07
-
Rwanda’s Capital Unveils 100 km Road Plan to Improve City Transport
09:59
-
GoviEx Launches Drilling to Expand Zambia’s Muntanga Uranium Project
09:44
• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...
Kenya tops African entries in 2025 IMD ranking at 56th globally. Botswana, Ghana, South Afric...
• Google unveils Veo 3, its latest AI tool for ultra-realistic video generation• Experts warn deepfa...
In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...
Mauritius is the most peaceful country in Africa for the 18th year in a row Sub-Saharan Afric...
(CMOC)-CMOC Group announced today that it has successfully completed the acquisition of 100% equity in the Cangrejos Gold Project in Ecuador, marking a...
Kigali to build 100 km of roads by 2029, targeting 25 km yearly. $100M AfDB loan supports transport upgrade. Citizens to cofund 50% amid...
Africa still has the largest gap in electricity access. While Central and South Asia have made significant strides, progress in Sub-Saharan Africa,...
Transport and food prices have been climbing steadily across Africa in recent years. In Côte d’Ivoire, the government has tried to lessen the impact on...
Lake Natron, located in northern Tanzania near the Kenyan border, is one of the most extraordinary and extreme lakes in Africa. Fed primarily by the Ewaso...
The Senegambian stone circles stand as one of the most remarkable archaeological legacies in West Africa, spread across parts of present-day Senegal and...