Media Room

Exxaro, Transnet ink ten-year coal transportation agreement

South African diversified resources company Exxaro Resources has signed a ten-year coal export transportation agreement with State-owned rail utility Transnet, which will increase coal volumes from the Limpopo-based Waterberg region to the Richards Bay Coal Terminal (RBCT), in KwaZulu-Natal, allowing for the transportation of 7.8-million tons a year of export coal.

Exxaro begins Tronox sell-off

Diversified mining company Exxaro Resources on Tuesday commenced the sell-off of a portion of the shares it holds in US mineral sands mining company Tronox. The JSE-listed Exxaro, headed by CEO Mxolisi Mgojo, is monetising its Tronox stake to focus on its core activities as well as provide funding for future capital commitments, repay debt and return capital to shareholders.

Otkritie bank gets stake in Polymetal

Russia's Otkritie bank has become a shareholder in Russian gold and silver producer Polymetal, the bank's MD Alexander Dmitriev said on Tuesday.

The bank owns 7.56% in Polymetal and has no plans to sell the stake, Dmitriev added. He did not elaborate on how the bank had become a shareholder of Polymetal. Polymetal is co-owned by businessman Alexander Nesis.

Coal of Africa sells Mooiplaats

The sale of the Mooiplaats Colliery is the final step in Coal of Africa’s balance sheet restructuring strategy, setting the course for the company to become a self-sufficient mid-tier coal mining company, CEO David Brown said on Monday. Mooiplaats, which has been on care and maintenance since 2013, is being sold to a consortium of investors for an aggregate purchase price of R179.9-million.

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