The Gupta’s struggling Koornfontein coal mine has finally been sold to junior miner Black Royalty Minerals for R300m after the initial preferred bidder failed to produce the funds in time.

In a statement, Black Royalty Minerals said the deal “brings to finality the uncertainty created by closure of the Koornfontein mine, which will bring much-needed economic activity to the surrounding community, the Mpumalanga region, and surrounding businesses”.

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