Sasol’s coal sale mystery
A possible sale of its coal mines — the source of Sasol’s synfuels production — has analysts wondering, and worrying
Sasol’s silence on the possible sale of its local coal assets has stoked speculation that its balance sheet is in worse shape than feared.
Recent Bloomberg reports, citing sources familiar with the matter, say Sasol will soon begin a formal sales process to dispose of its SA coal mines. That comes as it grapples with a surge in debt, incurred largely to fund its delayed and vastly over-budget Lake Charles ethane cracker plant in Louisiana in the US.