Mmakau definition
Examples of Mmakau in a sentence
The parties' Participation Interest in such exploitation shall be: Mmakau: 26% Taspac: 74%.
Mmakau undertakes to afford to Taspac all such assistance and suppport as may be reasonably commercially available to it and as may be reasonable required by Taspac to obtain the Prospecting Rights.
Taspac and Mmakau hereby agree to form a Joint Venture to be known as the Taspac Mmakau Joint Venture, in respect of the Prospecting Rights and in relation to the Joint Venture Area, on the terms and conditions set out in this Agreement.
Should the Management Committee resolve to proceed with mining development in respect of any particular Prospecting Right Area, all the costs of and associated with such mining development shall be borne by Taspac, Mmakau and the Broad Based Participants in proportion to their then respective interest in the Joint Venture in respect of that particular Prospecting Right Area on the basis set out in clause 18 below.
Should the Management Committee resolve to conduct a Bankable Feasibility Study in respect of any Prospecting Right Area the cost of such Bankable Feasibility Study shall be borne by Taspac, Mmakau and the Broad Based Participants in accordance with their respective Participation Interest in the Joint Venture .
Mmakau shall, forthwith upon becoming aware of any circumstances which may result in an event as contemplated in clause 10.5.1, and if such event does occur, notify Taspac thereof in writing with full particulars of the expected or actual occurrence.
Should Mmakau decline the offer in writing or fail to accept the offer in writing before expiry of the 30 day period, the offer shall lapse and the Members shall be entitled to appoint a third party to manage the exploitation operations, provided that such third party shall not be appointed on terms and conditions which are different from that contained in the offer to Mmakau without extending another offer to Mmakau on such amended terms and conditions for a further 30 day period.
The remaining 26% of the Dorstfontein and Forzando mines are owned by Mmakau Mining Proprietary Limited (“Mmakau”).
Mmakau shall, however, not be entitled to alienate the interest to an approved third party on terms and at a price, on a fully funded cash basis, other than that contained in the Offer without again offering its Participation Interest to Taspac on such other amended terms and conditions for a further period of [***] on the basis set out in this clause.
TCSA also owns a 49% interest in the Tumelo coal mine, with the remaining shareholding held by Mmakau, which is currently not in operation, and holds a 51% interest in the potential Eloff greenfields project, an undeveloped domestic thermal coal resource in Mpumalanga province.