Media Room

Menar’s Canyon offers Eskom cheaper coal on open-book basis

Coal mining company Canyon Coal, a Menar group company, is prepared to offer coal to State-owned electricity utility Eskom at a cheaper price on an open-book basis from two new projects. The Menar group, which does not supply coal to Eskom at present, employs 3 500 people on a R7-billion asset base that includes Canyon Coal, Kangra Coal and Zululand Anthracite Colliery (ZAC).

Alto shareholders reject offer

Takeover target Alto Metals has revealed that its major shareholders, holding a combined 32.12% of the company, would not accept a takeover offer from fellow-listed Middle Island.

Middle Island at the start of March revealed a proposed all-script takeover offer for Alto, offering five of its own shares for every one Alto share held.