This transaction follows the initial purchase of 29.33% announced last week. Following the recent purchase, the company is entitled to appoint two representatives to the board of DMC.
Andrew Groves, CEO of Sable Mining, said: “We have raised our stake in DMC to increase our exposure to what we believe is an exciting and well defined coal portfolio. We see strong potential in the development of DMC’s assets and will actively support a strategy to fast track their development, which should translate into value appreciation.”
DMC has a portfolio of coals assets primarily in South Africa and Botswana at various stages of development. These include the Rietkuil coal deposit, the Springbok Flats project and the Limpopo coal project. In Botswana, the company has 12 greenfield concession blocks covering 8,682sqkm and straddling known coal bearing sediments.
