18 July 2006
Source: Business Report, by Antony Sguazzin
Johannesburg - BHP Billiton, the biggest producer of coal in Africa, agreed to sell its Koornfontein coal mine in South Africa and the right to export 1.5 million metric tons of coal annually through Richards Bay Coal Terminal for $75 million.
Half of the South African mine, which produced 3.6 million tons of coal in the year to June 2005, plus one share will be sold to black investors led by Siyanda Resources and Aka Resources Holdings.
The rest of the mine will be taken up by Coronation Fund Managers and Investec Bank, BHP said in an e-mailed statement on Tuesday. – Bloomberg