Trade union Solidarity today welcomed the announcement made by Anglo American with regard to the sale of its Eskom-tied domestic thermal coal operations. These operations will be sold to a wholly owned subsidiary of Seriti Resources Holdings.
According to Connie Prinsloo, Solidarity’s Deputy General Secretary of the Mining Industry, Solidarity is in favour of the transaction. The transaction includes the Eskom-tied domestic thermal coal operations that consist of the New Vaal, New Denmark and Kriel collieries, as well as four closed collieries.
Through this transaction, Seriti will become the second largest provider of thermal coal to Eskom, supplying almost a quarter of Eskom’s current annual coal requirements. “We encourage their vision of long-standing support for the development and sustainability of South Africa’s mining industry,” Prinsloo said.