Anglo American could sell New Largo in package with three other coal mines
Eskom helped fund the development of some of Anglo’s mines, has interests in them and is in talks with the miner over the disposal of the assets
Anglo American may sell its New Largo project in a package with three other coal mines that supply power to utility Eskom, as the company moves forward with plans to scale down operations. Eskom is in talks with Anglo about the sale of the New Vaal, Kriel and New Denmark mines that provide fuel to the utility, according to acting Eskom CEO Matshela Koko. Eskom helped fund the development of some of Anglo’s mines, has interests in them and is in talks with the miner over the disposal of the assets. "The sale includes Anglo disinvesting out of New Largo," Koko said on Tuesday in an interview in Johannesburg. Eskom’s talks with the company include whether Anglo "lumps it" together with the three other mines, or sold it separately, he said, declining to provide more details. New Largo is in Mpumalanga near Eskom’s Kusile power plant, which will be the utility’s biggest once it is completed. Anglo expects the mine to produce about 570-million tonnes of coal for Kusile over 47 years, acco...
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