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BioEnergy to switch to mining

BioEnergy Africa
“’ switching from
ethanol production
like this to
mining
 
London, England — MININGREVIEW.COM — 07 October 2009 – BioEnergy Africa Limited “’ a company chaired by former England cricketer Philippe Edmonds “’ has revealed that it plans to suspend investment in its Mozambique ethanol project, and to focus on mining exploration and development in sub-Saharan Africa.

In a statement released here, the company said it planned to buy or invest in “early-stage” coal, platinum and uranium assets or businesses. It also confirmed that it planned to change its name to Sable Mining Africa Limited.

Bloomberg News reports that Edmonds also founded Central African Mining and Exploration Company, which he agreed last month to sell to Eurasian Natural Resources Corporation for US$936 million (R7.4 billion).

BioEnergy was unchanged at 12 pence on London’s Alternative Investment Market this morning. It has gained 71% this year, valuing the company at £39.9 million (R460 million).

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