https://www.engineeringnews.co.za

Wescoal to dispose of LBC assets

17th August 2018

By: Anine Kilian

Contributing Editor Online

     

Font size: - +

JSE-listed Wescoal has, through its wholly owned subsidiary, Leeuw Braakfontein Colliery (LBC), entered into a sale of assets with Sitatunga Resources, in terms of which LBC will dispose of its LBC assets, in KwaZulu-Natal.

The total consideration for the disposal is R103-million and will be paid in cash from funds in the Sitatunga group.

The consideration will be used to reduce the short-term borrowings of the group and to fund strategic growth options.

The value of the net assets that are the subject of the disposal is R92-million and, being nonoperational, there are no profits attributable to the net assets that are the subject of the disposal for the year ended March 31, 2018.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Astore Keymak
Astore Keymak

Astore Keymak is one of South Africa’s leading suppliers of high-quality Thermoplastic Pipeline Systems, with branches in the major provinces.

VISIT SHOWROOM 
Mitsubishi Chemical Group
Mitsubishi Chemical Group

Mitsubishi Chemical Advanced Materials South Africa (Pty) Ltd is a leading manufacturer of high-performance engineering plastics for the mining...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (17/07/2026)
17th July 2026 By: Martin Creamer
A video round up of this week’s magazine, highlighting our cover story, features and Business Leader.
Magazine round up | 17 July 2026
17th July 2026

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







301

sq:0.046 0.077s - 122pq - 2rq
Subscribe Now