Forbes & Manhattan Coal Corp. has extended the closing date for its acquisition of the Alleen No. 2 property from Ikwezi Mining Proprietry Ltd. The initial announcement of the purchase was made in January with the deadline for approval set at 20 April. The company will now target 30 June to close the deal.
Alleen No. 2 is located north of Dundee in KwaZulu Natal Province, South Africa, and is adjacent the Forbes’ current Magdelena opencast operations.
The parties are waiting for consent from the minister of mineral resources, which is required under the Mineral and Petroleum Development Act, in order to finalised the acquisition.
Adapted from press release by Jonathan Rowland
Read the article online at: https://www.worldcoal.com/coal/30042014/forbes_coal_delays_acquisition_of_alleen_no_2_coal778/