Guptas’ mining firm lists on JSE

2014-11-21 17:36

The Gupta family’s Oakbay Resources and Energy will list on the JSE next Friday and raise R800 million over the next 12 months.

Oakbay has a 74% interest in uranium and gold exploration company Shiva Uranium, which has operations on the Dominion and Rietkuil mines in the Hartbeesfontein District in the North West.

It is commissioning a definitive feasibility study on its mineral deposits, and expects to need about R800 million “to bring optimum uranium production on-line”.

The board includes chairman Atul Gupta and CEO George van der Merwe.

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