Australia-based mining company South32 will not sell its South African coal business to local firm Seriti Resources this month, having previously said it expected to, the firm said today. The firm published a statement today saying its sale of South Africa Energy Coal (SAEC) to Seriti “is now expected to complete following the end of the March 2021 quarter”. South32 said it was finalising arrangements for the sale with Seriti and state-owned utility Eskom, which must approve the deal, to “underpin the sustainability” of the business and to satisfy “final material conditions”.
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