Diversified miner South32 has agreed to sell its Illawarra Metallurgical Coal business for up to $1.65bn (R31.6bn), making headway in its strategy to simplify and reduce capital intensity.

The deal, which has been struck with an entity owned by Golden Energy and Resources (GEAR) and M Resources, will see the buyer assuming economic and operating control of Illawarra Metallurgical Coal, including all current and future liabilities...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.