Forbes & Manhattan acquires 100% of South African coal producer
Time：2012-03-06：Author： Reading number：4376 From：
Forbes & Manhattan acquires 100% of South African coal producer
By
Rohan SomwanshiForbes & Manhattan Coal Corp. has made its final payment of 140 million South African rand ($18.6 million) to acquire Slater Coal (Pty.) Ltd., according to a March 1 news release.
Forbes & Manhattan, which earlier had 
held a 53.5% interest in Slater Coal, now owns 100% of the South African coal producer. Slater Coal indirectly owns interest in the Magdalena bituminous and Aviemore anthracite mines in South Africa.
"The company has made significant progress in expanding the operations at the Magdalena bituminous and Aviemore Anthracite mines over the past 18 months and we are very pleased with our progress to date," Forbes & Manhattan President and CEO Stephan Theron said in a statement.
For the first quarter of fiscal 2012, the Magdalena operation produced 260,300 tonnes of run-of-mine underground and open-pit coal. Run-of-mine production at Aviemore for the quarter was 50,700 tonnes. Both Magdalena and Aviemore have a mine life of more than 20 years.