Dismissal of R42m claim sends coal company’s share price up

May 3, 2016

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A R42.5-million claim brought against coal mining company Keaton Mining by opencast mining services company Megacube Mining has been dismissed with costs. The JSE-listed Keaton said in a Stock Exchange News Service announcement on Tuesday that Megacube would also be liable for its failure to deliver 300 000 t of run-of-mine (Rom) coal a month and would be required to make payment equal to the present value of 657 583 t of Rom coal not mined.

Category: General