Rothe Investment is owned by Terracotta Processing and Vibrant Veterans Minerals Resources and King Makhado Holdings.
Terracotta and Vibrant Veterans each owned 30% of the entire issued share capital of Rothe with the remaining 40% being held by King Makhado.
Keynote was expected to hold the Chapudi Coal Project and related exploration properties situated in Limpopo, South Africa, upon completion of its acquisition from Rio Tinto Minerals Development Limited and Kwezi Mining.
On 26 November 2010, CoAL confirmed the sale and purchase agreement for the acquisition of the Chapudi Coal Project for $75m, which will now be completed following the agreements with Rothe.
CoAl, Keynote and Rothe have also entered into a share holders agreement to regulate their relationship, reports iol.co.za.
Rothe will fund its pro rata portion of the funding costs and acquisition cost of $75m, upon successful completion of the bankable feasibility study for the project.
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