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A consortium led by State-owned mining company African Exploration Mining and Finance Corporation (AEMFC) has been awarded the post-commencement funding (PCF) bid for Optimum Coal and its associated assets to the value of R1-billion. PCF is finance granted to a company in business rescue and is meant to address the business rescue practitioners’ (BRPs’) remuneration,…

Shumba Energy country manager, Mr Comfort Molosiwa, says they intend to turn Palapye into a coal producing centre. Mr Molosiwa, who was giving a presentation at the ongoing Central District Council (CDC) full council meeting, said they were working at exporting significant tonnage of coal from the area. He said Shumba would put up a…

Botswana Stock Exchange-listed Shumba Energy reports an agreement has been reached for the establishment of a 50:50 joint venture partnership between Shumba and black-owned Lurco Group South Africa at Shumba’s Sechaba thermal coal project situated in the Morupule coalfield in Botswana. The deal will allow the partnership to supply coal into the region and for…

SHUMBA Energy, a company listed in Botswana, is to sell a 50% stake in its Sechaba coal prospect, which is located in the southern African country’s Morupule coalfield, in a deal with Lurco Group, a privately-held South African firm. The transaction structure is that Lurco farms into the stake in Sechaba by spending capital on…

An agreement has been reached for the establishment of a 50:50 joint venture partnership between Shumba and South African black-owned Lurco Group South Africa at the Sechaba thermal coal project. Lurco has been trading for eight years and is an emerging South African resource business with the vision to be the leader in the international…