African Energy Resources Limited said it has raised up to AUD 15mn through an oversubscribed placement of 30mn new ordinary shares to advance its Sese coal project in Botswana. The new shares were primarily placed with institutional investors from Asia, Europe and Australia, the company said in a statement. A total of AUD 6mn of the attracted funds will be spent on feasibility studies at the companys wholly-owned Sese coal project in eastern Botswana. The funds raised will allow the company to substantially advance the Sese coal project with a view to potential development in late 2012, the company said. |
South African company Exxaro Resources said one of the options it currently considers is dismissing striking coal mine workers who fail to return to work in the week of March 25, fin24 reported ... more
South Africas telecommunication operator Telkom said that it has not made a decision on retrenching 13,000 employees, or more than half of its staff, TechCentral reported quoting a company ... more
Oryx Energies, a major independent provider of oil and gas products and services in Africa, has agreed to buy the South African liquefied petroleum gas (LPG) distribution businesses of BP and ... more