# South32 in exclusive talks to sell South African coal mines to Seriti Resources

South32 is in exclusive talks to sell its South African thermal coal mines to local mining house Seriti Resources, with a modest upfront cash payment and deferred payment mechanism.

- Type: Acquisition
- Announced: 2019-08-22
- Where: South Africa, South Africa
- Status: announced
- Products: thermal coal
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [South32](https://endata.com/companies/33959.md) (target)
- [Seriti Resources](https://endata.com/companies/42092.md) (acquirer)

## Sources

- [mg.co.za](https://mg.co.za/business/2019-09-13-coal-divestment-hits-south-africa/), 2019-09-13: "It doesn’t look like South32 expects to make a killing from the sale. If anything, the multinational miner is paying in to offload the business."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.