BILLIONAIRE coal investor Hans Mende will be a major shareholder in Bowen Coking Coal after a $50 million capital raising by the company to fund the ramp-up of mining at Ellensfield South Pit in Queensland until it achieves steady-state production in the second half of the 2023-24 financial year.
Mende is expected to become a substantial shareholder following completion of the equity raising.
The funds will also be used to complete box cut activities, make pre-payments, for guarantees and general working capital requirements. Mende's company Kirmar has committed to a $16 million investment...
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