Anglo American has agreed to sell its Eskom-linked coal-mines for R2.3-billion.
The mines will be taken over by Seriti Resources.
The black-owned company is set to become the second-largest supplier of coal to Eskom once the deal is concluded.
The move was prompted by Eskom’s demand for more coal to be supplied by majority black-owned companies.
This is also part of Anglo’s strategy to dispose of assets in order to reduce debt.
The power utility currently generates more than 90-percent of its electricity from the burning of coal.
Are you looking for a new job?
Are you unemployed and want a new job? Or maybe you have a job already and want to find greener pastures? We have all these amazing Job Listings just for you. Take a look and find that amazing Job Today. – See All Listings
