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Buffalo Coal Corporate Update - Suspension of Strategic Review

Coal News - Published on Fri, 14 Sep 2018

Image Source: Mining Review Africa
Buffalo Coal Corp announced today that in light of recent developments including the uncertainty surrounding the continuation of the mining services contract provided by STA Coal Mining Company Proprietary Limited at the Company’s Magdalena underground mine in South Africa, the Company has suspended the strategic review process previously announced on May 4, 2018. The Company has accordingly also suspended its arrangements with Northcott Capital Limited, its financial advisor for the process.

Buffalo is a coal producer in southern Africa. It holds a majority interest in two operating mines through its 100% interest in Buffalo Coal Dundee, a South African company which has a 70% interest in Zinoju. Zinoju holds a 100% interest in the Magdalena bituminous mine and the Aviemore anthracite mine in South Africa. Buffalo has an experienced coal-focused management team.

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Posted By : Rabi Wangkhem on Fri, 14 Sep 2018
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