{"id":864240,"date":"2026-06-22T14:00:00","date_gmt":"2026-06-22T12:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=864240"},"modified":"2026-06-22T12:59:44","modified_gmt":"2026-06-22T10:59:44","slug":"26-year-old-south-african-giant-buys-australian-company","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/864240\/26-year-old-south-african-giant-buys-australian-company\/","title":{"rendered":"26-year-old South African giant buys Australian company"},"content":{"rendered":"\n

Pan African Resources’ acquisition of its Joint Venture partner, Emmerson Resources, has become legally effective, with the South African company growing its presence in Australia’s Northern Territory. <\/p>\n\n\n\n

In March, Pan African announced that it had entered into a binding Scheme Implementation Deed (SID) to acquire 100% of Emmerson’s issued shares. <\/p>\n\n\n\n

The companies have worked together at the Tennant Creek mineral field in Australia, one of the country\u2019s highest-grade goldfields. <\/p>\n\n\n\n

The deal would see Pan African’s Australian subsidiary, Tennant Consolidated Mining Group (TCMG), act as the nominee acquiring Emmerson.<\/p>\n\n\n\n

Emmerson shareholders will be entitled to receive 0.1493 new Pan African shares per Emmerson share, as set out in the scheme agreement. <\/p>\n\n\n\n

The Pan African shares will be in the form of ASX-listed Pan African CHESS Depositary Interests (CDIs).<\/p>\n\n\n\n

Pan African has now provided its shareholders with an update stating that the scheme was approved by the requisite majorities of Emmerson shareholders on 15 June 2026.<\/p>\n\n\n\n

After the Emmerson shareholders approved the scheme resolution, the Supreme Court of Western Australia made orders approving the scheme on 19 June 2026. <\/p>\n\n\n\n

A copy of the court’s order has been lodged by Emmerson with the Australian Securities and Investments Commission, with the scheme now wholly unconditional and legally effective.<\/p>\n\n\n\n

Pan African has also been admitted to the ASX official list as a foreign exempt listing and has been granted an official quotation for the PAR CDIs under the ASX code PAF.<\/p>\n\n\n\n

Quotation of the PAR CDIs will commence on 23 June 2026 on a deferred settlement basis, with normal settlement trading commencing from 2 July 2026, following the issue of PAR CDIs as per the settlement. <\/p>\n\n\n\n

Motivation for the deal <\/h2>\n\n\n\n
\"\"<\/a><\/figure>\n\n\n\n

Pan African’s CEO, Cobus Loots, previously said the deal is the most logical step following its 2024 acquisition of TCMG.<\/p>\n\n\n\n

He said that the deal consolidates the miner’s position in the prospective Tennant Creek mineral field, which has long-term potential. <\/p>\n\n\n\n

“Emmerson has been a valued joint venture partner since establishing the Tennant Creek Joint Venture in 2020, and together we have made progress advancing the Tennant Creek Joint Venture assets.” <\/p>\n\n\n\n

“Bringing the assets under single ownership allows us to optimise project sequencing and capital allocation across the region, maximising value for all shareholders.” <\/p>\n\n\n\n

He added that Pan African shareholders will also benefit from the full ownership of strategic assets, leading to economies of scale by removing complex joint venture arrangements.<\/p>\n\n\n\n

He said that this will also enable Pan African to capture the full value of Tennant Creek through consolidation<\/p>\n\n\n\n

Tennant Creek is located in Australia’s desert in the Northern Territory, with Pan African looking to acquire low-cost gold. <\/p>\n\n\n\n

Emmerson’s Non-Executive Chairman, Mark Connelly, said that the scheme would deliver an immediate and attractive premium for Emmerson shareholders, while also providing exposure to Tennant Creek. <\/p>\n\n\n\n

“By consolidating ownership of the Tennant Creek Joint Venture, Emmerson and Pan African are fully aligned in the development of Tennant Creek,” said Connelly.<\/p>\n\n\n\n

Pan African has grown massively since its founding in 2000 as a mineral exploration firm into a major precious metals extractor, with a focus on gold. <\/p>\n","protected":false},"excerpt":{"rendered":"

Pan African Resources’ acquistion of Emmerson Resources in Australia has become effective. <\/p>\n","protected":false},"author":95,"featured_media":859960,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[25374,25373],"class_list":["post-864240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-emmerson-resources","tag-pan-african-resources"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/864240","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=864240"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/864240\/revisions"}],"predecessor-version":[{"id":864255,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/864240\/revisions\/864255"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/859960"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=864240"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=864240"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=864240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}