BUSINESS DAY TV: Coal-fired power stations will be here for a long time and can still generate value
BUSINESS DAY TV: Anglo American has found a buyer for its thermal coal operations; it’s selling the New Vaal, New Denmark and Kriel Collieries to Seriti Resources for R2.3bn. The transaction makes Seriti the second largest provider of thermal coal to Eskom. Joining us with more detail is CEO Mike Teke. Mike, thanks very much for coming in. So, an uncertain environment to be making such a big investment: R2.3bn, downgraded twice last week, are you a bit concerned at this stage about the extent of the investment? MIKE TEKE: Thank you for inviting me. I am not concerned; I am concerned, obviously, about our country; I’d like our country to grow and I’m an optimist. I still believe in SA as I was born here. But I believe in every calamity there is an opportunity, and we’ve been talking about these assets with Anglo for almost a year, and this is the time that we feel the deal can be concluded and both parties have agreed to sign their agreements, and I’m comfortable, yes. BDTV: What sta...
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