Sentula starts R300m Megacube equipment disposal

8th January 2013 By: Natasha Odendaal - Creamer Media Senior Deputy Editor

JOHANNESBURG ( – JSE-listed Sentula on Tuesday said it would auction off the remaining movable equipment of its now-closed subsidiary Megacube Mining.

The mining services provider and coal miner aimed to monetise Megacube’s plant and equipment through outright disposals, trade-ins and redeployments within the group after the loss-making mining services subsidiary ceased operations during the six months ended September 2012.

Ritchie Bros Auctioneers was expected to offer the equipment, with an estimated book value of R300-million and representing 19% of Sentula’s property, plant and equipment, for sale at an unreserved public auction starting March 20.

The final list of equipment was still to be agreed between the parties.