Pan African Resources Plc, precious metals mining group active in South Africa, has completed the acquisition of the Uitkomst coal mine in Kwazulu Natal, South Africa. The project was acquired for R150 million (working capital included) down from R200 million announced in June 2015.
“We are pleased to have finalised the transaction and we welcome the Uitkomst colliery employees to the group. The transaction is expected to be value accretive to Pan African,” said CEO of Pan African, Cobus Loots.
The company said Uitkomst would be implementing a black-economic empowerment (BEE) transaction similar to those currently in place at its Barberton and Evander projects. The transaction would increase the disadvantaged on-mine ownership by 9%.
The Uitkomst mine had an average run-of-mine of 50 000t/m and average saleable coal production of 34 000t/m. It has a 28 year life-of-mine and sustaining capital of R10 million/yr. Profit and cashflow are between 30 and 35 million rand.
Louis-Nino Kansoun
Africa’s AI adoption is accelerating, but its ability to scale depends primarily on foundational i...
Development Partners International sold its 20.17% stake in Atlantic Business International for mo...
African billionaires increased their combined net worth by $21.9 billion in 2025. Nigerian b...
Africa’s energy & mining exports benefit from US tariff exemptions, cushioning trade as most other...
Flutterwave acquired Nigerian open banking startup Mono in an all-share deal valued between $...
Zimbabwe to build data centre, tech park for AI-driven digital growth Project aims to boost infrastructure, part of Smart Zimbabwe 2030...
Ghana’s First Atlantic Bank approved to operate in Liberia Liberia entry follows $60M IPO on Ghana Stock Exchange in 2025 FAB aims to...
Orange exports reached 84,600 tons, worth $61m, in 2024/2025 Shipments rose 38% year on year, marking a second straight...
Black Rock Mining has yet to secure funding for the $225m Mahenge project The mine targets annual output of 340,000 tons over 26...
Located at the mouth of the Senegal River, about twenty kilometers from the Atlantic Ocean, Saint-Louis Island holds a distinctive place in the country’s...
Benin considers hosting a pan-African cultural event inspired by FESMAN but plans to use a different name. Culture Minister Jean-Michel Abimbola...