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20/07/2017
Orezone Announces Appointment of New Director
 
07/07/2017
ENDEAVOUR ANNOUNCES THE RETIREMENT OF ITS COO
 
31/05/2017
RETIREMENT OF DEPUTY CHAIRMAN - Mineral Deposits Limited
 
 
 
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   12/06/2015
 
SA's Ichor Coal to acquire Continental Coal mines
 
Ichor Coal N.V.  announced that it has entered into binding agreements to acquire Continental Coal Limited South Africa’s interests in the Penumbra and Vlakvarkfontein coal mines.

Ichor Coal will pay ZAR55 million for Continental Coal South Africa’s 100% interest in Penumbra, which has a resource of 14 million gross tonnes in situ and produced 500,000 tonnes of coal per annum since 2012. The Penumbra acquisition also includes a rail siding and an annual export allocation of 18,000 tonnes at Richards Bay Coal Terminal.
 
In addition, an amount of ZAR73 million will be paid for Continental Coal South Africa’s 50% shareholding (and 60% economic interest) in Ntshovelo that wholly owns Vlakvarkfontein, an opencast operation that produces approximately 1.2 million tonnes of thermal coal a year.

Ichor Coal intends funding the acquisitions of Penumbra and Ntshovelo through a combination of internal funds and third party funding.

Continental Coal entered into business rescue proceedings in November 2014.


 
 
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