Aviva reviews Mmamantswe in response to keen suitors

BSE-listed Aviva Corporation says its Mmamantswe coal project in the Central District, which is currently valued at naught in its books, continues to receive keen interest from international suitors.

Last year, the Australian based company wrote off its investment in the project after a bid to secure a power purchase agreement with South Africa's Eskom for its planned 1000MW Mmamantswe hit a snag.

Announcing its results for the year ended 30 June 2011, the company - which is also exploring for gold and base metals in Kenya - said it had received a number of inquiries relating to Mmamantswe and was reviewing the project scope to determine the best opportunities to create value for shareholders in light of increased international interest in the region.

Editor's Comment
Women unite for progress

It underscores the indispensable role women play in our society, particularly in building strong households and nurturing families. The recognition of women as the bedrock of our communities is not just a sentiment; it's a call to action for all women to stand together and support each other in their endeavours.The society's aim to instil essential principles and knowledge for national development is crucial. By providing a platform for...

Have a Story? Send Us a tip
arrow up