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South32 to pay clean-up costs to close South African coal unit sale


By Reuters Staff
3 Min Read
MELBOURNE (Reuters) - South32 Ltd will provide up to $250 million in funds to smooth the sale of its South African energy coal business to mining group Seriti Resources, the company said on Thursday.
FILE PHOTO - A sign adorns the building where Australian miner South32 has their office in Perth, Western Australia, November 19, 2015. REUTERS/David Gray
South32 will pay $200 million across a decade to partly fund costs of the environmental clean up of the mines of its South Africa Energy Coal unit once they close, and a $50 million facility to pay for the costs of restructuring some loss-making mining sites, it said. ....

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