BLACK-LED GROUPS
Anglo American selects bidders for coal mines
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 Chamber of Mines president Mike Teke, Phembani Group chairman and MTN Group head Phuthuma Nhleko and Zungu Investments executive chairman Sandile Zungu, according to the people who asked not to be identified because the information is not public. Rand Merchant Bank is involved in the process, they said. Anglo 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, mainly to Eskom. Together the assets — the New Vaal, Kriel and New Denmark mines — account for about half of the company’s South African coal production. The three mines combined produced almost 7-million tonnes of coal...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.