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Tag: mergers and acquisitions

Dragline at the Ensham coal mine in Central Queensland.

New Ensham ownership takes effect this week

Written by dev on . Posted in All News, Coal, Energy.

South African coal miner Thungela will complete its acquisition of a majority stake in the Ensham mine on Thursday and assume operational control from September 1.

The company said all conditions precedent relating to the acquisition had been fulfilled and that the transaction had become unconditional.

“We are delighted to welcome our colleagues from Ensham into the Thungela family as they continue to build on a proud history of safe production in the Bowen Basin region of Queensland," Thungela chief executive officer July Ndlovu said.

"We look forward to learning from them and also to sharing our knowledge.“

Thungela sees. . .

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Dragline at the Ensham coal mine in Central Queensland.

Thungela ready to take the reins at Ensham

Written by dev on . Posted in All News, Coal, Energy, Processing / Manufacturing.

South African coal company Thungela Resources expects to assume operational control of the Ensham coal mine around the end of this month.

Idemitsu Kosan announced in February that it was selling its majority stake in the Emerald coal mine to the Sungela consortium comprised of Thungela Resources (75 per cent), Mayfair Corporations Group (12.5 per cent) and Audley Energy (12.5 per cent).

Thungela said today that Ensham would be acquired at a cost of about R4. . .

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Another life for Ensham

Written by dev on . Posted in All News, Coal, Energy.

Ensham underground coal mine, located approximately 35km east of Emerald in central Queensland, has another life.

Environment and Water Minister Tanya Plibersek has extended operations of the bord and pillar mine under the EPBC act to 2045.

The approvals were given under three provisions including ‘threatened species and communities’ and ‘coal seam gas or large coal mining development with significant impact on water resources’.

In February this year Idemitsu Kosan announced it sold its majority stake in the Ensham coal mine.

Idemitsu said the new owners – a consortium called Sungela – would continue to operate the Ensham mine and were committed. . .

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Dragline at the Ensham coal mine in Central Queensland.

Idemitsu offloads Ensham coal operation

Written by dev on . Posted in All News, Coal, Energy, Processing / Manufacturing.

Idemitsu Kosan has sold its majority stake in the Ensham coal mine near Emerald as it pursues a portfolio strategy that has seen recent commitments to Queensland critical minerals and green energy projects.

In the sale announcement today, Idemitsu said the new owners - a consortium called Sungela - would continue to operate the Ensham mine and were committed to site rehabilitation obligations.

The purchase price is $340 million, subject to increase or decrease under a working capital adjustment.

Idemitsu Australia chief executive officer Steve Kovac said the Japanese group had set a global target to be carbon neutral by 2050 and. . .

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