Anglo American completes sale of Eskom thermal coal

Anglo American completes sale of Eskom thermal coal

Anglo American has confirmed the sale of its Eskom-tied domestic thermal coal operations in South Africa to Seriti.

The consideration payable for the operations as at 1 January 2017 was R2.3-billion (about USD164 million).

Mark Cutifani, chief executive of Anglo American, says, “We are pleased to have completed the sale of our Eskom-tied domestic thermal coal operations in South Africa to Seriti. This transaction continues the reshaping of our global asset portfolio based on value and the optimal deployment of capital, while realising value for our shareholders and ensuring reliable supply of coal to Eskom.”

“We believe the conclusion of the sale to Seriti, a broad-based, majority black-owned and controlled South African mining company, represents a major step change in transformation in the coal (and broader mining) sector, reinforcing Anglo American’s longstanding track record, and commitment to, economic empowerment and sustainable transformation,” says Norman Mbazima, deputy chairman of Anglo American South Africa.

The operations consist of the New Vaal, New Denmark and Kriel collieries, as well as four closed collieries.


 

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