Buffalo Coal Corp. owns a 100% interest in Buffalo Coal Dundee Proprietary Limited (“BC Dundee”), a South African company with an interest in two coal mines, the Aviemore East anthracite mine, an underground mining operation, and the Magdalena bituminous mine.
BC Dundee indirectly holds a 70% interest in the BC Dundee Properties through its 70% interest in Zinoju Coal Proprietary Limited (“Zinoju”), which holds all the mineral rights with respect to the BC Dundee Properties. The remaining 30% interest in Zinoju is held by South African Black Economic Empowerment ("BEE") partners.
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