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Friday, 02 March 18
ANGLO AMERICAN COMPLETES SALE OF ESKOM-TIED THERMAL COAL OPERATIONS IN SOUTH AFRICA
 Anglo American plc (“Anglo American”) confirms completion of the sale of its Eskom-tied domestic thermal coal operations in South Africa (the “Operations”) to Seriti (the “Transaction”). The consideration payable for the Operations as at 1 January 2017 is ZAR2.3 billion (approximately US$164 million).
Mark Cutifani, Chief Executive of Anglo American, said: “We are pleased to have completed the sale of our Eskom-tied domestic thermal coal operations in South Africa to Seriti. This transaction continues the reshaping of our global asset portfolio based on value and the optimal deployment of capital, while realising value for our shareholders and ensuring reliable supply of coal to Eskom.”
Norman Mbazima, Deputy Chairman of Anglo American South Africa, commented on the Transaction: “We believe the conclusion of the sale to Seriti, a broad-based, majority black-owned and controlled South African mining company, represents a major step change in transformation in the coal (and broader mining) sector, reinforcing Anglo American’s longstanding track record, and commitment to, economic empowerment and sustainable transformation.”
The Operations consist of the New Vaal, New Denmark and Kriel collieries, as well as four closed collieries.
About Seriti & Anglo American
Seriti
Seriti Coal Proprietary Limited, the purchaser, is a wholly owned subsidiary of Seriti Resources Holdings Proprietary Limited (“Seriti”). Seriti is a broad-based, majority HDSA-owned and controlled South African mining company, established with the aim of preserving and operating strategic energy assets for the benefit of South Africa and its people. Seriti is owned jointly by four strategic “anchor” shareholders, namely Masimong Group Holdings Proprietary Limited (“Masimong”), Thebe Investment Corporation (“Thebe”), Zungu Investments Company Proprietary Limited (“ZICO”) and Community Investment Holdings Projects (“CIH Projects”). Seriti’s management team will be led by Mike Teke who has extensive mining experience through the acquisition, operation and development of Optimum Coal Mines and Koornfontein Mines which produced approximately 10Mtpa of saleable domestic and export thermal coal and the development of other large scale thermal coal projects. Seriti intends to provide meaningful equity participation for management, employees and communities in its structure.
Anglo American
Anglo American is a globally diversified mining business. Our portfolio of world-class competitive mining operations and undeveloped resources provides the raw materials to meet the growing consumer-driven demands of the world’s developed and maturing economies. Our people are at the heart of our business. It is our people who use the latest technologies to find new resources, plan and build our mines and who mine, process and move and market our products to our customers around the world.
As a responsible miner – of diamonds (through De Beers), copper, platinum and other precious metals, iron ore, coal and nickel – we are the custodians of what are precious natural resources. We work together with our key partners and stakeholders to unlock the long-term value that those resources represent for our shareholders and for the communities and countries in which we operate – creating sustainable value and making a real difference.
www.angloamerican.com
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Wednesday, 15 February 17
SHIPPING MARKET INSIGHT - INTERMODAL
Looking at the state of the Dry Bulk market exactly a year ago, there is no doubt that there is a significant improvement and despite the fact that ...
Tuesday, 14 February 17
OPTIMISM HAS STARTED TO SLOWLY FLOW BACK INTO THE DRY BULK MARKET - GEORGE LAZARIDIS
Optimism has started to slowly flow back into the dry bulk market, with many in the market showing renewed optimism as the Pacific basin starts to ...
Monday, 13 February 17
COMBINED COAL SALES OF BUMI RESOURCES ROSE TO 87.7 MILLION TONS IN FY'16; UP 10.6 PERCENT Y/Y
COALspot.com: Combined Coal Sales of Bumi Resources rose to 87.7 million tons in FY’16 compared with 79.3 million tons in FY’15. ...
Monday, 13 February 17
THE FREIGHT MARKET CONTINUED TO TUMBLE IN FEBRUARY
COALspot.com: The Freight market was continued its downfall in all segments except Panamax for the week ending 10 February 2017.
The Balt ...
Friday, 10 February 17
U.S. COAL OUTPUT IS ESTIMATED TO HAVE DECLINED BY 158 MMST IN 2016 TO 739 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tons ...
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- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
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- Indonesian Coal Mining Association
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- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
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- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
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- Parry Sugars Refinery, India
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- Wood Mackenzie - Singapore
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- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
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- TNB Fuel Sdn Bhd - Malaysia
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- London Commodity Brokers - England
- CNBM International Corporation - China
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
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- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
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- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
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- Planning Commission, India
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- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
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- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
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