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Izimbiwa Coal

Project Description


In June 2012, Izimbiwa Coal exchanged its 30% equity shareholding in Kangra Coal (Pty) Ltd for additional shares in Izimbiwa Coal. The deal made Shanduka Resources (Pty) Ltd, which is a wholly owned subsidiary of Phembani, a 50.01% shareholder in Izimbiwa Coal with Glencore holding 49.99%.

Graspan is a private coal mining company in the Mpumalanga Province. Izimbiwa’s interest was purchased on 1 December 2005 for R195 million.

Shanduka Resources entered into an agreement with Metorex Ltd and Grailton, with regard to the acquisition of all the shares in Wakefields for R425 million in July 2006. The acquisition was structured in a venture partnership with Glencore. Wakefields comprises 4 collieries, Leeuwfontein, Bankfontein, Lakeside and Townlands.

Leeuwfontein and Lakeside were in the process of being sold as at 31 December 2015.

In 2008, Lexshell 99 entered into an agreement to acquire the shares of Springboklaagte Mining Pty Ltd for of R258 million. Lexshell 99 is jointly controlled by Izimbiwa Coal and Umcebo Holdings Mining (Pty) Ltd. Mining is anticipated to begin in FY19.

Springlake Anthracite, was acquired from Petmin Ltd for R85 million in July 2009.

Argent Prospecting Rights acquired in 2013 from Spigan Mine Management for R110m. Operations are anticipated to start in FY18P