Anglo shortlists bidders for its coal assets
Some of SA’s most prominent black businessmen are on the list of possible bidders for the coal mines as the group focuses on diamonds, platinum and copper
Anglo American has shortlisted groups led by some of SA’s most prominent black businessmen as bidders for several of its South African coal mines as it focuses on diamonds, platinum and copper, two people familiar with the discussions said. Groups selected by Anglo include companies led by Mike Teke, president of the Chamber of Mines; Phuthuma Nhleko, chairman of the Pembani Group and head of Africa’s biggest mobile phone company, MTN; and Sandile Zungu, executive chairperson of Zungu Investments, according to the people who asked not to be identified because the information is not public. Rand Merchant Bank (RMB) is involved in the process, they said. Anglo, founded in Johannesburg in 1917, announced plans in February last year to sell more than half its mines to focus on a smaller group of commodities. The mines under discussion are those that sell coal locally in SA, mainly to Eskom. Together the assets — the New Vaal, Kriel and New Denmark mines — account for about half of the c...
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