Share

SA's Exxaro buys Total's coal assets

Johannesburg - Mining group Exxaro said on Monday it had acquired South African coal assets of French oil company Total for $472m.

Exxaro, the country's second-largest coal producer, which also has interests in iron ore and base metals, signalled earlier this year that it was considering buying Total Coal South Africa (TCSA) to grow its business.

TCSA is the fifth-largest coal producer in South Africa and the majority of its output is exported to Asian markets such as India and China.

Total said in a statement that the sale was part of the group's 2012-14 asset sale programme as it focuses on its core activities.

Exxaro [JSE:EXX] shares were up 1.37% at R143.19 at lunch on Monday.
We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.88
+0.3%
Rand - Pound
23.85
+0.2%
Rand - Euro
20.39
+0.2%
Rand - Aus dollar
12.33
+0.1%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders