Riversdale Mining will hold 74% of ZAC with the remaining 26% to be held by a black economic empowerment (BEE) consortium.

The BEE consortium, which is led by Maweni Investments, is a broad based black economic empowerment group representing local communities and employees at ZAC.

The mine is situated near Ulundi in Kwazulu-Natal province. It supplies high grade anthracite into the heavy minerals, ferrolloy, electrode and steel industries.

The mine produced 561,000 tonnes of saleable anthracite in the twelve months to June 2004 and has a workforce of some 700 employees and 300 contractors.

The mine has a further four years of life, however, Riversdale said the presence of deeper resources and the potential for exploitation of the thin seam areas offered the potential to extend life of mine beyond 2008.

Riversdale Mining also owns a 74% interest in an anthracite deposit in the Vryheid area of Kwazulu-Natal province and is focused on building a portfolio of assets in South Africa.