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Anglo to sell Eskom-tied coal asset

Anglo American (LN:AAL) has agreed to sell off its New Largo project in a deal that will see it cut ties with the South African thermal coal market.

Anglo to sell Eskom-tied coal asset Anglo to sell Eskom-tied coal asset Anglo to sell Eskom-tied coal asset Anglo to sell Eskom-tied coal asset Anglo to sell Eskom-tied coal asset

New Largo is well positioned to the under-construction Kusile power station in Mpumalanga

 
The company will sell its 73% stake in the asset for R850 million (US$71 million) to majority black-owned-and-managed company New Largo Proprietary Ltd, owned by Seriti Reso...