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Universal Coal bid for NBC closer after DMR approves mining right transfer - Mr Weber

Coal News - Published on Mon, 13 Aug 2018

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Miningmx quoted Universal Coal, as saying that the South African government had approved the transfer of mining rights to the North Block Complex thermal coal operations that it is buying from Exxaro Resources. The transfer of mining rights on the properties – Glisa and Eerstelingsfontein which are situated in the country’s Mpumalanga province. Mr Tony Weber, CEO of Universal Coal in a statement “ a milestone in Universal securing the NBC.”

Mr Weber said that “As we have stated previously, NBC will add materially to Universal’s growing production profile and will give the company greater exposure to high margin export markets in the long term.”

He said that “Coal markets and pricing are currently favourable and Universal continues to benefit from strong sector tailwinds.”

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Posted By : Rabi Wangkhem on Mon, 13 Aug 2018
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