Local newsNews

Inyanda has new owners

Inyanda Colliery is sold. The colliery was sold to a consortium of Burgh Group Holdings Proprietary Limited (Burgh) and Lurco Group Proprietary Limited (Lurco).

Inyanda Colliery is sold. The colliery was sold to a consortium of Burgh Group Holdings Proprietary Limited (Burgh) and Lurco Group Proprietary Limited (Lurco).

The sale comprises the mining right, plant, Blackhill private rail siding and associated liabilities. This sale was concluded on October 3. Burgh and Lurco will continue using Inyanda Colliery for coal beneficiation and foresees the beneficiation of more than 25 million tonnes of coal for the local and international export market over the next five years which will add significantly to the country’s coal beneficiation infrastructure.

“We are delighted to deliver Inyanda Colliery to its new owners” said Mxolisi Mgojo, the Chief Executive Officer of Exxaro. “Inyanda Colliery was one of Exxaro’s flagship mines and will continue to generate immense value for the new shareholders”.

“Quinton van der Burgh, the Chief Executive Officer stated that “the acquisition of Inyanda’s assets is a critical building block of our organisation” while Ellington Nxumalo, Chief Executive Officer of Lurco Group added that they were honoured to purchase the great assets of Inyanda from Exxaro.

ze413rs
Inyanda Colliery now belongs to of Burgh Group Holdings Proprietary Limited and Lurco Group Proprietary Limited.

Burgh and Lurco will continue with good mining practices, safe operations and compliance with all environmental obligations.

All parties thanked the Department of Minerals and Resources for its approval of transfer of Inyanda’s mining right to the new owners of the colliery and the Competition Commission for an unconditional approval of the transaction.

ALSO READ:
MNS residents complaining about a mine
Residents are sick and tired of mine blasts

Back to top button