Anglo shortlists bidders for its Eskom coal mines

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(iStock)
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Cape Town - Anglo American [JSE:AGL] has shortlisted groups led by some of South Africa’s most prominent black businessmen as bidders for several of its South African coal mines as it focuses on diamonds, platinum and copper, two people familiar with the discussions said.

Groups selected by Anglo include companies led by Mike Teke, president of South Africa’s Chamber of Mines; Phuthuma Nhleko, chairperson of the Phembani Group and head of Africa’s biggest mobile phone company MTN, and Sandile Zungu, executive chairperson of Zungu Investments, according to the people who asked not to be identified because the information is not public. Rand Merchant Bank is involved in the process, they said.

Anglo, founded in Johannesburg in 1917, announced plans in February 2015 to sell more than half its mines so that it could focus on a smaller group of commodities.

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