Coal miner and trader Wescoal is eyeing to diverse into renewable investments as it changes its name to Salungano Group Limited.
Salungano is the Venda word for passing on knowledge, heritage, a vision and generational mission through storytelling, and now assets. The company’s shareholders approved the name change in April, and they are ready to focus on renewable investments.
By changing the name and identity, the company said, it will also change the way it positions itself in the market, in the diverse industries and sectors it will be investing in.
“Wescoal continues to have strong roots in coal mining, but as the Company diversifies, it can no longer operate as Wescoal Holdings as the name implies it is a coal company,” said the company in a statement.
“Wescoal is embarking on a total transformation that will spearhead an evolution that will see the Company invest in multiple industries and diverse sectors of the economy underpinned by a strong focus on ESG.”
Wescoal Holdings Limited was incorporated in 2005 and is headquartered in Sandton, South Africa. Together with its subsidiaries, the company engages in mining, processing, selling, and distributing of thermal coal primarily in South Africa. The company is involved in the exploration and mining of bituminous coal. The company also supplies coal by road and rail to power generation and manufacturing sectors; and provides technical support for steam generation.
Wescoal Holdings Limited was incorporated in 2005 and is headquartered in Sandton, South Africa. Together with its subsidiaries, the company engages in mining, processing, selling, and distributing of thermal coal primarily in South Africa. The company is involved in the exploration and mining of bituminous coal. The company also supplies coal by road and rail to power generation and manufacturing sectors; and provides technical support for steam generation.
