TerraCom takes major stake in Universal Coal
PERTH (miningweekly.com) – ASX-listed TerraCom has taken a 19.9% stake in South Africa-focused coal miner Universal Coal, in a deal worth A$34.6-million.
TerraCom on Wednesday said that it had acquired 104.5-million Universal securities from Coal Development Holding for A$17.3-million in cash and some 34.2-million of its own shares.
The acquisition of a substantial stake in Universal aligned with TerraCom’s ongoing corporate strategy, enabling the company to enter into an emerging market while reducing its sovereign risk profile with new investments in South Africa.
“Universal’s asset portfolio provides the company with greater geographic diversification and an expanded production footprint,” said TerraCom chairperson Wal King.
“The growth achieved under the guidance of CEO Tony Weber throughout the last few years has been exceptional. TerraCom is excited to become a substantial shareholder and looks forward to being associated with Universal’s long term profitable growth.”
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation















