Sentula Mining has entered a merger agreement with Close-Up Mining Proprietary.

Under the agreement, Sentula will dispose its 50.5% share in Sentula Coal to Close-Up Mining Proprietary for ZAR50.50 ($4.15) in cash.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Close-Up Mining Proprietary will allot and issue 2,667 ordinary shares of no par value to Sentula, representing 40% of the its shares in issue.

Shareholders of Close-Up will also transfer ZAR10m ($0.82m) of their existing claims in favour of Sentula.

"Upon completion of the transaction, Sentula Mining will hold 40% of the shares in Close-Up."

Upon completion of the transaction, Sentula Mining will hold 40% of the shares in Close-Up. While Close-Up will hold 50.5% of the shares in Sentula Coal, in addition to its existing opencast mining operations.

Sentula Coal will own certain plant and equipment previously owned by Benicon Opencast Mining Proprietary, an 83% subsidiary of Sentula Mining.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Lithium Australia has completed the acquisition of Lithophile. It will provide Lithium Australia the ownership rights to three lithium prospects within the Gascoyne Complex located 750km north of Perth, Australia.

The transaction involved a payment of A$0.06m ($0.04) in cash by Lithium Australia to Lithophile. It also comprises issuance of 500,000 fully paid ordinary shares to Lithophile, and an additional 500,000 partly paid ordinary shares priced at A$0.25 ($0.18) a share to the recipient's vendors.