Wescoal, Xstrata deal progresses
JOHANNESBURG (miningweekly.com) – JSE-listed Wescoal on Thursday said several conditions precedent for its Vlaklaagte disposal and Elandspruit acquisition had been met.
The group would sell its Vlaklaagte mining rights to diversified miner Xstrata for R81.1-million, while it would buy the Swiss-listed group’s Elandspruit rights for R93.8-million.
A notarial deed of cession transferring the Elandspruit mining right from Xstrata subsidiary, Duiker Mining, to its parent company had been completed and registered at the Mineral and Petroleum Titles Registration Office.
Wescoal said it would update the market in due course once the remaining conditions precedent to the transactions had been met.
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