Homeland Mining and Energy SA Proprietary (HMESA), a wholly owned subsidiary of Homeland Energy Group, a company listed in Canada (HEG) in which GMR Energy has a majority shareholding has entered into an agreement to divest its 50% equity interest in Tshedza Mining Resource, which holds the license for the development of Eloff mines. The purchaser of the Homeland’s interest in the Eloff mines is the Company’s current BEE partner, who already holds a 50% interest in the property. The consummation of transaction is subject to receipt of statutory approvals in South Africa.
HMESA has also entered into an agreement for the sale of its entire shareholding of Ferret Coal (Kendal). The transaction will be subject to receipt of statutory approvals and HEG Shareholders approval. The Kendal mine is an operating mine and sells coal in domestic market while the Eloff mine is under development stage.
GMR Infrastructure is the infrastructure holding company formed to fund the capital requirements of various infrastructure projects in the Group’s Energy, Highways and Airport and SEZ sectors. It undertakes the development of the infrastructure projects through its various subsidiaries.
| Company Name | CMP |
|---|---|
| Dreamfolks Services | 83.03 |
| GMR Airports | 97.36 |
| View more.. | |
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