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South Africa's Exxaro to sell ECC operations to Overlooked Colliery


By Reuters Staff
1 Min Read
Mxolisi Mgojo, CEO of Exxaro speaks during a media briefing at the 2020 Investing in African Mining Indaba conference in Cape Town, South Africa, February 4, 2020. REUTERS/Sumaya Hisham/File Photo
JOHANNESBURG (Reuters) - South Africa’s Exxaro Resources Ltd’s said on Friday it would sell its Exxaro Coal Central (ECC) operations to Overlooked Colliery for an undisclosed amount.
The transaction, which is subject to approval by the mines ministry, is part of the coal miners internal review of its assets.
Reporting by Promit Mukherjee ....

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Anglo American to Spin Off South African Coal Mines


Anglo American to Spin Off South African Coal Mines2021-04-092021-04-09http://www.liquidafrica.com/wp-content/uploads/2015/12/LA-Logo.pngliquidafricahttp://www.liquidafrica.com/wp-content/uploads/2015/12/LA-Logo.png200px200px
 
Anglo American Plc will separate its South African coal mines into a new business this year, as the company accelerates its response to investor pressure over the most- polluting fuel.
Anglo has been plotting an exit from thermal coal for more than a year and has always said separating its South African business was the most likely outcome. Anglo will still own a coal mine in Colombia that it’s also planning to sell and coking coal mines in Australia, used to make steel rather than burned for power. ....

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SA stocks head for fresh record as banks and miners rise


Naspers extended gains for a third day, up 2.1% to provide the biggest boost to the index
Anglo American halted a two-day slide, rising 1% as iron ore prices rebounded, leading the gauge for mining stocks higher for the first day in three.
South African stocks rose on Thursday, gaining 0.6% as of 10:55 in Johannesburg and heading for a fresh all-time record close, as miners recovered amid optimism over a global recovery and as a stronger rand boosted banks.
Johannesburg stocks joined peers in posting gains as the technology sector led a wider Asian rally after weaker-than-expected consumer price inflation data Wednesday eased concerns about the U.S. economy overheating, and helped to further stall the rising trend in bond yields. ....

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