Today Oakbay Resources and Energy Limited (JSE:ORL) listed in the General Mining sector on the JSE’s Main Board. Oakbay is the 16th company to list on the JSE this year.
Oakbay is an investment holding company with a 74% interest in Shiva Uranium Limited, previously Uranium One Africa. Shiva Uranium is a mining and exploration company focusing primarily on uranium and gold deposits with its main base of operations conducted on the Dominion and Rietkuil mines. These are located in the Hartbeesfontein District in the North West province.
“We welcome Oakbay to the JSE. Our stock exchange was founded over a century ago because of the funding needs of the mining industry. We are proud to contribute to the growth of this crucial sector of the South African economy so many years later,” says Donna Oosthuyse, Director: Capital Markets at the JSE.
Oakbay Chairman Atul Gupta says: “The listing of Oakbay Resources is the culmination of four years’ hard work and investment in its uranium asset, Shiva. It is also a further step in the wider Oakbay group’s strategy to create 100,000 new jobs in South Africa.”
Oakbay is the second basic resources company to list on the JSE this year and brings the total number of companies listed in this sector to 59. The sector has a market capitalisation of R2.1 trillion, contributing almost 20% to the JSE’s overall market capitalisation of R11.68 trillion.