Commodities > Bulks

South32 to spin off SA coal division

South32 (AU:S32) is planning to spin off its South Africa Energy Coal division into a standalone business from April 2018 and invest R4.3 billion (US$301 million) to extend the life of the Klipspruit colliery by 20 years.

Commodities > Bulks

South32 to spin off SA coal division

South32 (AU:S32) is planning to spin off its South Africa Energy Coal division into a standalone business from April 2018 and invest R4.3 billion (US$301 million) to extend the life of the Klipspruit colliery by 20 years.

South32 to spin off SA coal division

South32 will extend the Klipspruit colliery's mine life by 20 years

The standalone company will be restructured and managed separately from the rest of the group with tailored functional support, systems and governance processes. The move should improve the operation's competitiveness and ensure its ongoing sustainability, South 32 said.