South32 okays R4.3bn project, eyes JSE for rejigged energy coal

Diversified mining and metals company South32 on Monday approved the R4.3-billion, 20-year Klipspruit life extension project at South Africa Energy Coal (SAEC), and at the same time set out to turn its South African energy coal business into a standalone entity, earmarked for further empowerment and a possible separate listing on the Johannesburg Stock Exchange (JSE). The company said that development activity at the Klipspruit extension project was expected to begin this quarter, with first coal from the opencast operation in 2019, and the standalone management of SAEC heading for an April start.