Total sells South African coal assets to Exxaro for $472 million

摘要

French energy company Total confirmed its exitfrom South African coal mining Monday, saying it had soldits stake in its subsidiary Total Coal South Africa todiversified miner Exxaro Resources for $472 million as part ofits 2012-14 asset sale program.The binding sales and purchase agreement includedTCSA’s related export marketing rights under its Richards BayCoal Terminal shareholder allocation, giving Exxaro an extra4.09 million mt/year of export capacity through the port,Exxaro said in a statement to the Johannesburg StockExchange Monday.