Copper, zinc, including related products, i.e. silver and pyrite. It has such ores Maranda mine in South Africawhich interested the Polish Bumech. The mine has been operating since 1991, but mining was suspended in 2005. The latest deposit estimates date back to this period and were estimated at 1.1 million tons of sulfur with an average content of 23%. zinc and 3 percent copper.
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And the Bumech company listed on the Warsaw Stock Exchange, controlled by Marcin and Anna Sutkowski, signed an agreement on Tuesday specifying the rules for taking over control of this mine, the company announced in a press release. Bumech is engaged in coal mining in the “Silesia” mine, it also produces mining machines and offers services for the mining industry.
Bumech shares reacted to this news with a price increase of as much as 26%. up to PLN 28.70.
PLN 39 million to invest
The agreement was concluded with Booysen Family Trust and Maranda Mining Company PTY LTD, based in South Africa. It specifies the method of establishing two joint ventures and the rules for running them jointly.
The total value of the transaction will be 60 million rand, i.e. approximately PLN 13 million at the current average exchange rate of the National Bank of Poland. In addition, investment commitments related to the modernization and increase of the mine's efficiency in 2026-2028 will amount to approximately 120 million rand, or PLN 26 million. In total, PLN 39 million needs to be spent.
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Bumech at the end of September last year had PLN 11.8 million of liquid funds. Last year could be considered relatively successful due to the profit in the second quarter, unlike 2024, when it recorded a net loss of PLN 1 billion 154 million. This was the result of a write-off on the “Silesia” coal mine, which is undergoing renovation, i.e. the most radical form of restructuring.
South African Maranda is a deep mine, with mineralization from 100 m below the surface. So far, mining has been carried out at only 10 percent. concession area at a depth of 100 to 330 meters below the surface of the earth. It is located in Maranda 932LT, in the eastern part of the Limpopo province in South Africa.
