As it scrambles to get the sale of its SA coal-mining assets to Seriti Resources over the line, South32 has agreed to cough up nearly R3bn to fund the environmental cleanup of the shafts in the future.

Mining companies are required to provide funds for the restoration of the land once a mine has reached the end of its life under the 2002 legislation enacted to ensure they do not leave the government to clean up poisons and heavy metals that leak into rivers and deadly dust that blows across the land...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now