Eskom Says It Owns Assets at Some South African Coal Mines
- State-owned company asked lawyers to examine coal-mine assets
- Talks to transfer value will be ‘painful,’ executive says
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South Africa’s power utility plans to transfer assets at coal mines it helped fund onto its own balance sheet, which will involve a “painful process” of discussions with companies including Anglo American Plc and Exxaro Resources Ltd., an executive said.
Lawyers for Eskom Holdings SOC Ltd., South Africa’s biggest coal buyer, reviewed coal mines in the country and concluded the utility has “substantial” assets, Matshela Koko, executive head of generation, said after the Johannesburg-based utility’s full-year earnings presentation on Tuesday. He declined to comment on details or an overall value of the assets.