Thungela to sell Goedehoop North assets
Thermal coal producer Thungela will sell its Goedehoop North assets to private company GHN Resources and UK-based Bisichi for up to R700-million.
Thungela notes that its South African portfolio is currently in a period of transition, with the closure of select operations as economical reserves are mined out. These operations, however, continue to have infrastructure that has value-in-use and provide an opportunity for neighbouring operations with long-life resources to continue to use the economic benefit of the infrastructure for a longer period.
"This transaction provides an opportunity for the group to optimise the South African portfolio and continue to strengthen the balance sheet, as the sale will also include the transfer of the rehabilitation liability associated with the Goedehoop North mining area," it points out.
The assets and liabilities to be acquired by GHN include the rapid load-out coal terminal, coal beneficiation plant, surface rights, mine residue dump, mining rights and rehabilitation liabilities.
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