Wave Capital now known as Riversdale have acquired a 74% interest in an anthracite project in the Republic of South Africa. Anthracite is a high quality form of coal that can either be used as a clean feedstock for the production of energy or in other industrial processes.
South African production of anthracite has been in decline and the country has recently become a net importer of the product. Following completion of a bankable feasibility study, the project offers the potential to generate attractive cash flows in a relatively short time frame.
Some basic information on the deal. The main guy behind it has an excellant track record, has delivered on CCE, GRR to name a few. All things being equal, can see this one performing just as well.
