Australian junior Acacia buys S Africa coal project from Rio Tinto

Australian coal explorer and developer Acacia Coal has signed an agreement with the vendors of Coalvent to acquire a 74% interest in the Riversdale anthracite colliery, in South Africa. In terms of the transaction, Coalvent will acquire the project, near Vryheid in KwaZulu-Natal, from mining major Rio Tinto and will vend it into Acacia, giving the ASX-listed junior a 74% interest in the project. The remaining 26% will be held by incoming black economic empowerment partner African Onca.