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Anglo American sells certain thermal coal operations in South Africa

Published 02 March 2018

Anglo American has completed the sale of its Eskom-tied domestic thermal coal operations in South Africa to Seriti for ZAR2.3bn ($164m).

Anglo American CEO Mark Cutifani said: "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."

Anglo American South Africa deputy chairman Norman Mbazima said: "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."

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

Source: Company Press Release