Masimong said to lead bid for Anglo’s local coal assets
Group led by South African Chamber of Mines President Mike Teke is reported to have edged ahead of Phembani Group in the process to buy the mines
Masimong Minerals has emerged as the favourite to win an auction for some of Anglo American’s South African coal mines, according to two people familiar with the matter. Led by South African Chamber of Mines President Mike Teke, Masimong has edged ahead of Phembani Group, the other shortlisted bidder, in the process to buy the mines that mainly supply coal to Eskom, said the people, who asked not to be identified because the information had not been made public. Their offers ranged from R2bn-R3bn, two other people with knowledge of the matter said earlier in March. "Anglo American is in discussions with a number of shortlisted bidders and continues to engage key stakeholders in relation to the Eskom-tied domestic thermal-coal operations," spokesperson Pranill Ramchander said in e-mailed comments. "We will make further announcements as appropriate." Teke declined to comment. The chamber represents mining companies operating in SA including Anglo and Glencore. Anglo opted to sell the ...
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