* Deal has black economic empowerment component
* Expands Sentula's mining portfolio (Adds quotes, background, details)
JOHANNESBURG, April 21 (Reuters) - Sentula Mining Ltd said on Thursday that it was merging its coal assets with Shanduka Resources in a 2.1 billion rand ($312 million) deal that will boost its black economic empowerment credentials.
"The proposed transaction will be structured through the issue and allotment of around 627 million new Sentula ordinary shares to Shanduka Resources," it said in a statement.
It said this would enable it to acquire approximately 30 percent of the entire issued share capital of Shanduka Coal as well as approximately 30 percent of the entire share capital of Kangra Coal, held via the subsidiary Shanduka Coal Investments.
Unlisted Shanduka Resources would control 51.9 percent of the new Group, for a total consideration of nearly 2.1 billion rand.
Sentula said the proposed transaction would expand its portfolio from mining services and exploration drilling to include operational coal mining assets.
"In addition to the portfolio of operating mines and resources, this strategic deal introduces a credible and substantial Broad Based Black Economic Empowerment partner, bolstering the group's BEE credentials significantly." it said.
Shanduka Resources is part of the unlisted Shanduka Group, which is chaired by prominent politician-turned-businessman Cyril Ramaphosa.
BEE is designed to redress the racial economic disparities of the apartheid past and the government wants mining companies to be 26 percent black-owned by 2014.
(Reporting by Ed Stoddard; Editing by Erica Billingham)