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Exxaro set to sell Colliery

Apr 24 2013 20:18
I-Net Bridge

Company Data

EXXARO RESOURCES LIMITED [JSE:EXX]

Last traded 84
Change -6
% Change -7
Cumulative volume 673041
Market cap 0

Last Updated: 03-05-2016 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Diversified resources group Exxaro Resources [JSE:EXX] reported on Wednesday that it is starting a process that may result in the disposal of its New Clydesdale Colliery (NCC) operation situated near eMalahleni in Mpumalanga.

Exxaro said it had recently had a number of unsolicited approaches to acquire its NCC asset. As NCC was a relatively short life-of-mine and lower margin asset‚ the group would embark on a process of testing whether potential third party buyers could generate greater value from this unique asset.

”This process may therefore result in a disposal of NCC to a suitably qualified operator‚ allowing Exxaro to focus on its core portfolio and delivery of its growth prospects.

“The group is calling for expressions of interest from parties interested in acquiring the assets and liabilities of the NCC operation‚” the group said.

In 2012 NCC produced 717kt of A-grade steam coal‚ most of which was exported.

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