South African thermal coal producer and exporter Thungela Resources will take operational control of the Ensham coal mine, in Queensland, Australia, from September 1, as all conditions precedent to the buyout of a controlling interest in the mine have been fulfilled. Thungela announced in February that it had entered into agreements to acquire a controlling interest in Sungela Holdings, which in turn would acquire an 85% interest in the Ensham business.
South African thermal coal producer and exporter Thungela Resources will take operational control of the Ensham coal mine, in Queensland, Australia, from September 1, as all conditions precedent to the buyout of a controlling interest in the mine have been fulfilled.
The acquisition of the business is a significant step in Thungela’s strategy to pursue geographic diversification, while also allowing it to leverage its core capabilities in a commodity and mining method which it understands well, while providing access to new markets and to the Newcastle export coal price, the miner states.
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