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South32 provides South Africa Energy Coal divestment update

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World Coal,

South32 Ltd has advised that the transfer of its shareholding in South32 SA Coal Holdings Proprietary Ltd (South Africa Energy Coal) to Seriti Resources Holdings Proprietary Ltd (the transaction) is now expected to complete following the end of the March 2021 quarter.

Work is progressing between South32, Seriti and Eskom Holdings SOC Ltd to finalise arrangements that will underpin the sustainability of the South Africa Energy Coal business under the ownership of Seriti and allow for the satisfaction of the final material conditions to the transaction. A further update will be provided to the market at the conclusion of this work.

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South Africa coal news