HomeNewsRio Tinto sells 74% stake in Zululand Anthracite Colliery

Rio Tinto sells 74% stake in Zululand Anthracite Colliery

The sale announced on 2 September 2016 by Rio Tinto, comprises ZAC, an underground mine in Zululand, in northern KwaZulu-Natal that produces premium quality anthracite for international and domestic customers and has more than 1 300 employees and contractors.

Although Rio Tinto did not not disclose the value of the transaction which was agreed in 2012, its remaining 26% of ZAC will continue to be held by its Broad-Based Black Economic Empowerment partner, Maweni Mining Consortium.

Menar has a proven track record of operating and investing in South Africa through its controlling interest in Canyon Coal, which owns three coal mines in Mpumalanga and other coal projects in Mpumalanga and Gauteng.

Rio Tinto says it has a long-standing relationship with South Africa and continues to invest in Richards Bay Minerals and exploration for other minerals in the country.