SA coal mining and exploration company Canyon Coal has completed its $40m acquisition of Kangra Coal and is looking to develop new projects. This could create more jobs at the Mpumalanga coal operations. Canyon acquired the company from Madrid-listed energy firm Gas Natural Fenosa and SA-based Izimbiwa Coal Investments. With Kangra also comes a 2.3% interest in the Richards Bay Coal Terminal, one of the world’s largest such terminals, and from which it can move 1.6-million tons a year. Kangra has an underground mine and open-cast operations near Piet Retief, Mpumalanga, where it produces 2-million tons of coal per annum. The conclusion of the deal adds to the rapidly growing portfolio of coal assets under the control of Menar Holdings, the largest private export-oriented coal producer in SA. Menar’s SA investments include stakes in Canyon Coal and Zululand Anthracite Colliery, SA’s only producer of prime anthracite, very high-quality coal. Canyon’s purchase agreement for Kangra was ...
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