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South32 sale hinges on a better Eskom coal deal

Seriti Resources poised to become SA’s second-largest coal producer after Exxaro

A deal that could create the second-largest coal producer in SA now hinges on the renegotiation of a loss-making Eskom contract.

South32, an Australia-listed miner which was spun out of BHP in 2015, announced on Wednesday it had concluded a purchase agreement with Seriti Resources for its SA Energy Coal business for an upfront payment of R100m.

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