In what has shown to be a year of significant moves being made in the mining sector, Beryl Group’s acquisition of Africoal’s stake in Eyethu Coal, now effectively makes the group the 100% shareholder in Eyethu Coal.
Beryl Group is a Pan-African diversified investment company, focusing on strategic proprietary investments. It holds equity interests in a balanced portfolio of medium and large capitalised companies spanning across three core sectors: Logistics and Rail, Coal, and Financial Services.
In order to expand the mining footprint of Beryl Group, Beryl Coal was established. Beryl Coal is a majority black female owned entity with its strategic vision being to obtain various reserves and continue supply to the local market with a view to expand to the export market. This strategic view is driven by Group CEO Dr. Reabetswe Kgoroeadira who says in driving the Group’s strategy, she is guided by the philosophy that “Consistency and execution are the two most important currencies in business”. This is evidenced in the great strides Beryl Group has made in its 20 years of existence.
This acquisition is significant and it is a great move for the mining industry and business in South Africa. With annual revenues exceeding R3 billion, Beryl Group’s coal platform will provide the prospect of economic stimulus by adding an estimated 2 000 more jobs throughout their several mining operations.
Eyethu Coal was established in 2004, and the company has constantly explored the Mpumalanga region of South Africa for new coal reserves, thus ensuring the future sustainability and ability of the company to supply coal into designated markets. Eyethu produces in excess of 4 million tons of coal annually, adding to an already existing strong Beryl Coal portfolio. Further capital injection is planned to optimize the assets and increase the life of the mines.
The Eyethu acquisition adds greatly to the larger strategic vision of the group’s coal platform, opening up a solid and expansive coal export business for Beryl Group.
Regarding the game-changing acquisition, Beryl Group Chairman Mr. Neverl Kambasha said “Our decision making is derived from our ability to add value in every opportunity and transaction we engage in. The acquisition of Eyethu Coal positions us in good stead to tilt the scales in coal mining as we further cement our position as a key player in the sector”.
Timing is of utmost importance and in line with the demand for coal, largely in the energy and petroleum sectors, Beryl is certainly to be watched as a key supplier, considering that Eyethu Coal is already a large supplier of coal locally, as well as a major supplier of A Grade coal into the export market. Eyethu has six operational mines with expansion plans for several new operations under development.
Beryl Group is certainly making the right moves, and the market is ripe for change and receptive of stronger emerging mining groups.
For more details, visit the website: https://berylgroup.co.za
MORE ABOUT THE BERYL GROUP:
- The Beryl Group is a Pan-African diversified investment company, focusing on strategic proprietary investments. It holds equity interests in a balanced portfolio of medium and large capitalised companies spanning across three core sectors: Logistics & Rail, Coal and Financial Services and one non-core activity, which is ICT.
- Beryl Group is a forward-looking company with a focus on long-term value. It selects its partner-companies strategically, singling out seasoned players within each sector who share their progressive outlook. In exchange for in-depth industry knowledge and expert capacity, Beryl Group offers its partner-companies access to an expansive network of resources and business relationships. Its partnership model has been tried-and-tested and has driven the vision of the company.
- Beryl Group’s ability to structure high-calibre portfolios and cultivate lucrative partnerships has helped the company grow as a market leader in strategic equity-acquisitions and project financing. The investments of Beryl Group are uncompromisingly performance-driven, to ensure highly attractive and sustainable returns for its stakeholders. Beryl Group’s dynamic, dedicated and highly specialised team oversees various aspects of the business strategy and is positioned to grow a Pan-African base under the leadership of Neverl Kambasha (Chairman) and Dr Reabetswe Kgoroeadira (Group CEO).
- Their strategy is driven by the transformation mandate. Therefore, the Group either seeks to hold a controlling stake in its investments or a minority stake in companies where it is involved strategically with proper representation at the board and management levels. Beryl Group primarily drives its African business out of Mauritius but also has a strong presence in South Africa where it principally focuses on specific sectors in which it has acquired extensive knowledge and experience.
- Beryl Group’s tactic is simple: to select the portfolio that best serves its strategy. Portfolio-selection is the central kernel of Beryl Group’s success.
Submitted by: Clayton Morar Media