Announced
Financials
Sources
Tags
Acquisition
mining
Cross Border
Majority
Single Bidder
Australia
coal mines
General Mining
Pending
Private
Friendly
Synopsis
Thungela Resources, a pure-play producer and exporter of high quality, low-cost thermal coal in South Africa, agreed to acquire a majority stake in Ensham coal mine, an Australian mine, for $189m. Thungela said a long-term incentive plan will also be put in place under which the shareholding could increase by a further 5% if certain milestones are achieved.
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