[miningmx.com] — KEATON Energy Holdings announced on Wednesday the Minister of Mineral Resources has consented to a change in control of Leeuw Mining and Exploration (LME), in terms of Section 11 of the Mineral and Petroleum Resources Development Act (MPRDA).
Keaton Energy announced in February its intention to acquire a 74% interest in Leeuw Mining.
“The Minister’s approval is a very welcome final step in the transaction to acquire a controlling interest in LME. We now look forward to consolidating LME into the Keaton Energy group,” said managing director Paul Miller
LME owns and operates the Vaalkrantz Anthracite Colliery near Vryheid in South Africa’s KwaZulu Natal province. Vaalkrantz has been in production since 2003.
In addition, LME has:
– a renewed 200,000tpa participation in Richards Bay Coal Terminal’s Quattro export programme and a dedicated railway siding facility near Vaalkrantz;
– a number of new order mining rights and mining right applications over other KwaZulu Natal properties, including: the Koudelager anthracite project, which will provide future run-of-mine anthracite production to the Vaalkrantz plant; the Braakfontein thermal coal project, near Newcastle; the Balgray anthracite project near Utrecht; and the Mpati anthracite project near Dundee, which LME has agreed to sell to Slater Coal, subject to the receipt and cession of a mining right.
