EXXARO:  14,749   -37 (-0.25%)  13/11/2018 00:00

South Africa's Exxaro eyes South32's coal assets, export quota - CEO

(Adds South32 COO comment)

JOHANNESBURG, Oct 3 (Reuters) - South African miner Exxaro is interested in South32's local coal assets, which include an export quota, as it looks to increase its exports, Exxaro's chief executive said on Wednesday.

"We have expressed interest at this very early round in the South32 assets," Chief Executive Mxolisi Mgojo told Reuters on the sidelines of the Joburg Indaba mining conference.

"Our primary objective is to get further exposure on the export side and the South32 assets also come with Richard Bay Coal Terminal (RBCT) entitlements," he said.

South32 plans to dispose of its South Africa Energy Coal (SAEC) operations, consisting of four coal mining operations and processing plants in the coalfields of the Mpumalanga province.

"There has been a lot of interest, they are quality assets," South32 chief operating officer Mike Fraser said, without giving detail on their value.

South32 has around 21 percent of the available export capacity at RBCT, Fraser said. (Reporting by Tanisha Heiberg Editing by Ed Stoddard and Kirsten Donovan/Emelia Sithole-Matarise)

2018-10-03 17:13:11

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