One privately-held company unlikely ever to go public will be Vuslat Bayoglu’s Canyon Coal, or its shareholder Menar Holdings, a Luxembourg company in which the Bayoglu family wealth is invested.

Like ZAC, which is situated in the north of the province, the RAC project will produce low sulphur, medium quality anthracite coal. The coal deposits are estimated to be just

Menar reached an agreement with Coalvent and African Onca to partner in the development of the Riversdale Anthracite Colliery (RAC) project near Vryheid in KwaZuluNatal.

This comes after Menar successfully completed a turnaround of prime anthracite producer Zululand Anthracite Colliery (ZAC), which is situated in the north of the province.

Menar reached an agreement with Coalvent and African Onca to partner in the development of the Riversdale Anthracite Colliery (RAC) project near Vryheid, KwaZulu-Natal.

Mining investment company Menar has entered into a development agreement with Coalvent and African Onca to develop the Riversdale Anthracite Colliery (RAC) project, near Vryheid, in KwaZulu-Natal.

Mining investment company Menar has entered into a development agreement with Coalvent and African Onca to develop the Riversdale Anthracite Colliery (RAC) project, near Vryheid, in KwaZulu-Natal.

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

If approved, the acquisition will add to Menar’s growing portfolio and diversified geographical location of assets.

The purchase of 70% stake from Madrid-listed energy giant Gas Natural Fenosa (GNF), which trades as Naturgy, is subject to regulatory approval and the finalisation of discussions about pre-emptive rights