We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

If you are looking for a glimpse into the future of SA coal, look no further than South32’s withdrawal from its local coal business.

South32 was itself spun out of the largest mining company in the world — BHP — in 2015. Just two years later, it began mulling its exit from SA coal. Now it looks like local black-owned player Seriti Resources is in pole position to acquire the business. The two have signed an exclusivity agreement to hash out the details. The numbers have not been finalised but it’s already been agreed that Seriti will pay a “modest” upfront amount and the balance will be deferred and will depend on the movements in export coal prices. And these have fallen off a cliff in 2019. ..

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 articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now