After buying the Zululand Anthracite Colliery (ZAC) from Rio Tinto, which it has turned into a thriving business, the investment firm Menar wants to meet the same challenge on another South African project. It announced Monday that it has entered into a partnership agreement with Coalvent Ltd and African Onca Proprietary to help develop the Riversdale Anthracite Colliery (RAC) coal deposit.
Like the BIA, the RAC project is expected to produce, we learn, medium-grade, low-sulfur anthracite coal. The coal deposits would host a little over nine million tonnes with the possibility of future expansion beyond the mine's estimated life.
For Vuslat Bayoglu (photo), CEO of Menar, the involvement of his company in the project will realize its enormous potential.
"Not only do we bring to RAC our experience in anthracite mining, but also our exposure to the market. RAC's products will be complementary to the ZAC customers as well as the new customers we want to supply, " said COO Bradley Hammond.