Petra Mining Limited (JSE: PET; Petmin) has secured shareholder approval for the company's acquisition of Springlake Holdings (Pty) Limited (Springlake) for R108 million, and has announced the go-ahead for the development of a new R114 million, 950 000 run-of-mine tonnes per year (ROM tpa) high-quality anthracite mine, Somkhele, near Mtubatuba and Richards Bay in KwaZulu-Natal (KZN).
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In its first set of results since converting from a cash shell to an operating mining company, Petra Mining Limited (Petmin) has announced a profit after tax of R28.3 million for the year ended 30 June 2005 (FY05).
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© 2009 Petmin Limited
