| |
Opportunities for contract mining in Africa – Sam Jonah
In an interview on Radio 2000 @ 18:00 on Tuesday, 28 February 2006
[miningmx.com] -- SAM Jonah, chairman-designate of contract miner Scharrig Mining, said he invested in the company owing to the huge opportunities for business in Africa.
“I took the position because the vision that I saw was based on the tremendous opportunities that I was seeing in Africa.
“Scharrig is a prominent contract mining company and there are huge opportunities for growth in contract mining in Africa,” said Jonah.
He was speaking on the week nightly business show, the Moneyweb Power Hour, broadcast on Radio 2000.
Jonah, who quit his executive duties at AngloGold Ashanti in order to pursue other business opportunities, such as Moto Goldmines, said there was potential for Scharrig in Nigeria.
“As you know quite a few companies are sniffing around in Nigeria on their coal. Scharrig’s main core business has been coal mining for a very prominent
company here and who better to do the drilling for them than Geosearch,” said Jonah.
Sharrig bought Geosearch International, and another drilling company, Transbor, in a transaction valued at no more than R380m. The deals will allow Scharrig to diversify in the future, said Jonah.
Since Jonah, who now owns 25% of Scharrig, brought into the company at R3/share the price has been raised to R8.20/share.
| |
