Anglo to sell New Largo assets to Seriti, partners for R850m

LSE- and JSE-listed Anglo American is making further progress with its strategy of disposing of its Eskom-tied coal assets, announcing on Monday that it will sell its New Largo thermal coal assets, which are owned by its 73%-held subsidiary Anglo American Inyosi Coal, to New Largo Coal, for R850-million. New Largo Coal is a partnership between Seriti Resources, Coalzar and the Industrial Development Corporation (IDC).