I think the Competitions Board in SA would have something to say...

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pitman

1,113 Posts.

30/07/14

15:09

Post #: 13738999
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Originally posted by Pinnell ↑

http://www.miningweekly.com/article...-south-african-coal-mines-for-472m-2014-07-28

Exxaro expanding.... maybe they will make a play for RES?

"Exxaro sees its investment in coal assets as a core part of its diversified mining portfolio and believes that it will be able to leverage its extensive experience in coal mining to unlock additional value from the existing Total operations and the Eloff greenfield project.
Exxaro is currently the fourth-largest exporter of coal from South Africa and the acquisition will provide it with access to an additional 4.09-million tons a year of primary phase one-to-three RBCT entitlement.
Exxaro currently leases entitlement from other operators in the industry in order to meet its export requirements.
Access to additional allocation could enable Exxaro to reconfigure and expedite its development plans for current brownfield and greenfield projects in the Waterberg region by either increasing the scale of existing operations or changing planned projects to multi-product mines.
It is anticipated that coal from the Waterberg can be used to replace the rapidly diminishing thermal coal being supplied to Eskom from existing Mpumalanga coal mines.
Exxaro currently owns the only operating coal mine in the Waterberg region, Grootegeluk, and has various other potential greenfield projects that it plans to develop in the region, including its large-scale Thabametsi project."

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I think the Competitions Board in SA would have something to say about Exxaro taking over any more assets that supply Eskom with coal and/or are in the Waterberg. It is no-ones interest to have one miner controlling a complete coalfield.

RES Price at posting: 12.0¢ Sentiment: None Disclosure: Not Held
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I think the Competitions Board in SA would have something to say...

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