The two main bidders for Anglo American’s South African coal mines plan to list their companies if they are successful in buying the operations, according to three people familiar with the plans. Phembani Group, founded by MTN Group chairman Phuthuma Nhleko, and Masimong Minerals were seen as the leading bidders to purchase the mines that produced coal for the local market, with offers ranging from R2bn-R3bn, said two of the people. The black-owned companies both planned to sell shares if they won the assets, said the people, who asked not to be identified because the discussions are private. SA is pushing companies to boost black involvement in the economy to make up for discrimination during apartheid. Eskom, which burns coal for about 90% of its generation and is the country’s largest buyer of the fuel, says it wants suppliers to be black-controlled. Anglo decided in February 2016 to unload more assets after commodity prices plunged and as it sought to pay debt built up during ye...
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