R2.3bn Anglo coal sale to Seriti may hit Eskom ownership snag

A new aspirant South African mining champion on Monday announced its intention to purchase Anglo American’s Eskom-tied domestic thermal coal operations in South Africa, which would position the majority black-owned start-up as the potential second-largest provider of coal to the State electricity utilty. Seriti Resources, the company Anglo named as the proposed buyer of three Eskom-tied coal mines and four closed coal assets, is a new 79% black-owned company, which easily ticks the transformation boxes demanded by both Eskom and Department of Mineral Resources (DMR).