https://www.engineeringnews.co.za

Burgh Group, Vitol to acquire Tegeta’s stake in RBCT

Burgh Group, Vitol to acquire Tegeta’s stake in RBCT

Photo by Bloomberg

16th September 2016

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

  

Font size: - +

JOHANNESBURG (miningweekly.com) – A consortium comprising investment company Burgh Group and energy group Vitol has agreed to acquire Optimum Coal Terminal (OCT) from Gupta-owned Tegeta for an undisclosed sum.

OCT has a 7.61% shareholding in the Richards Bay Coal Terminal (RBCT). 

The Burgh Group comprises a range of businesses, but its core focus is mining and industrial companies, notably in the coal sector.  Its interests include coal mining, marketing and mining equipment. Burgh Group companies produce 500 000 t/m of coal, with production to grow to over one-million tonnes of coal a month by mid-2017.

The acquisition of the shareholding in RBCT will facilitate the expansion of Burgh Group’s export business, targeting overseas markets for coal, while working with Vitol’s established coal team.

Burgh Group’s coal operations employ 600 employees.  As the business expands, it is anticipated that this will grow to over 1 000 by March 2017.

CEO Quinton van der Burgh said this was a major step forward for the Burgh Group. “It will enable us to invest confidently in expanding our business and developing new and existing projects.  We look forward to working with our partners, customers and stakeholders in this exciting phase of the company’s development.”

RBCT could not immediately be reached for comment.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Array

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
John Thompson
John Thompson

John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.273 0.329s - 175pq - 2rq
Subscribe Now