While most of the players in the mining sector are worrying about the future, two unknown and unlisted coal mining companies are investing in new projects.
For all the scepticism and dark foreboding in South Africa’s mining sector, some brave souls continue to find a way to invest, especially in the energy sector where two unlisted companies are driving forward. One is Scinta South Africa in which Sandile Zungu of Zungu Investment Corporation (Zico) is invested along with veteran junior miner Humphrey Mathe, a founder in Tranter Resources, and financial services firm Bravura, led by Ian Matthews and Soraya Hay.
The other is Canyon Coal, which is jointly owned by Mercuria, a Singaporean trading commodity house, and Menar Holdings, an investment company which is headquartered in Luxembourg and owned by Vuslat Bayoglu, a Turkish national operating in SA’s coal sector for the last 15 years.
According to Charl Ferreira, an executive director of Zico Investments, Scinta’s plan is to begin exploration work on a new coal mining property that it hopes will deliver 4m tonnes per annum (mtpa) of export and domestic thermal coal at a capital cost of R2.5bn.
The property, known as Davel, was purchased from South32 along with Ermelo Mines, which consists of a plant and infrastructure, including a railway loop, and two discard dumps that Scinta hopes can be mined for short-term cash flow. Davel and Ermelo Mines were bought for R187m.
Bu hikaye Finweek English dergisinin 29 June 2017 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Finweek English dergisinin 29 June 2017 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
THE HEALTH OF SA'S MEDICAL SCHEMES
As the Covid-19 pandemic abates, finweek takes a look at the financial performance of some of the largest players.
The effect of Gilbertson's departure
With Ntsimbintle Holdings now the major shareholder of Jupiter Mines, it could change SA’s manganese industry.
Making money from music
Why investors are increasingly drawn to the music industry.
Conviction is key
Sandy Rheeder plays a critical role in Mukuru’s mission to open up financial services to the emerging consumer market in Africa through tailor-made technology solutions and platforms.
The post-pandemic toolkit
How CFOs can use technology to support growth.
Big city living exodus
Mini cities like Waterfall City and Steyn City are redefining city-style apartment living.
Big compact, big value
Handsome, with a hefty level of standard specification, the roomy Haval Jolion compact crossover is a great value proposition.
On barriers to entry
There are various ways in which a company or sector can achieve competitive dominance. They usually make for good investments.
Fear and greed in one index
To buck the trend, when markets are hot or cold, is a tough thing to do. However, it can deliver solid returns.
Africa's largest data centre facility coming soon
Vantage Data Centers plans to invest over R15bn for its first African data centre facility in Attacq’s Waterfall City.
