By Gavin du Venage, South African Editor
CAPE TOWN, South Africa—The sale of the South African coal assets of Australia-listed South32 is nearing completion, with final bids expected in June. This will be one of the largest coal transactions in the country to date. South32 was established in 2015 when it was spun out of Australian mining conglomerate BHP into a separate listed entity, mostly consisting of BHP’s South African assets.
The sale of South32’s coal division has been in the works since 2017, when CEO Graham Kerr announced the company had started a “process to broaden and transform the ownership of South Africa Energy Coal (SAEC).”