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Miranda Mineral Holdings to sell noncore Sesikhona Klipbrand colliery

JSE-listed Miranda Mineral Holdings, together with its wholly-owned subsidiary Miranda Coal, will sell its 73% shareholding in Sesikhona Klipbrand colliery, in KwaZulu-Natal, to Osho SA Coal for R5-million, payable in two tranches. The parties are currently involved in litigation arising from the provisions of a term sheet entered into in December 2011 and have signed a consent letter in which they agree to stay the litigation proceedings until such time as the agreement fails to take effect or litigation is withdrawn and terminates if and when the agreement takes effect.