Wescoal pursues Keaton in R525m acquisition

Fresh from concluding its R178-million black economic empowerment (BEE) transformation deal, coal mining and trading company Wescoal has made a formal bid for junior coal miner Keaton Energy, securing significant resources for future development. Wescoal, setting its sights on being a key player in the consolidation of the South African junior coal mining sector as a means to significantly grow the company, submitted a firm offer this week to acquire Keaton for around R525.59-million.