Get all your news in one place.
100's of premium titles.
One app.
Start reading
Reuters
Reuters
Business

Australia's South32 in talks to sell South Africa coal unit to Seriti Resources

FILE PHOTO: The logo of Australian miner South32 can be seen at the venue of a news conference in Perth, Western Australia, November 18, 2015. REUTERS/David Gray

(Reuters) - Australia's South32 Ltd <S32.AX> said on Thursday it was in talks to sell its South Africa energy-coal business to Seriti Resources and will book a related charge of $504 million.

The charge will be reflected in the company's annual results due later in the day, the miner said in a statement.

South32 has been running its South African energy coal business as a separate unit since April 2018 in preparation for a sale.

(Reporting by Aditya Soni in Bengaluru; Editing by Anil D'Silva)

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.