South32 in deal to sell S African thermal coal business to Seriti

摘要

London—Australian Miner South32 has entered into a binding conditional agreement for the sale of its South African thermal coal business, South Africa Energy Coal, to Seriti Resources, the companies said Wednesday. South32 owns 91.835% of SAEC, and the remainder is owned by black economic empowerment (BEE) consortium, led by Phembani Holdings. SAEC is on course to produce around 27 million mt of thermal coal this year, which would be split between 15.7 million mt to the domestic market and 11.3 million mt to the export market, according to South32’s most recent production report.