Sentula Mining announced that its existing empowerment consortium‚ Shanike Investments‚ would acquire a 26% interest in the company’s Bankfontein coal project.

The consortium was initially established as part of the broad-based black economic empowerment transaction to acquire a 16.675% direct equity interest in Sentula Contracting Services Proprietary Ltd.

The Bankfontein project is a near development project that forms part of the farm Bankfontein in the magisterial district of Ermelo in Mpumalanga and its prospecting right is held by Benicon Mining.

The deal is subject to conditions precedent.

Source - www.iol.co.za

(www.coalguru.com)