{"id":14936,"date":"2012-09-25T16:55:30","date_gmt":"2012-09-25T14:55:30","guid":{"rendered":"http:\/\/www.myza.co.za\/09\/update-2-rio-tinto-sells-small-s-african-coal-assets\/"},"modified":"2012-09-25T16:55:30","modified_gmt":"2012-09-25T14:55:30","slug":"update-2-rio-tinto-sells-small-s-african-coal-assets","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-rio-tinto-sells-small-s-african-coal-assets\/","title":{"rendered":"UPDATE 2-Rio Tinto sells small S.African coal assets"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, Sept 25<\/span> (Reuters) &#8211; Rio Tinto has<br \/>\nagreed to sell two small coal assets in South Africa to Forbes<br \/>\nManhattan Coal for 440 million rand ($53 million) as<br \/>\npart of its strategy to shed smaller operations.<\/p>\n<p><span><\/span><\/p>\n<p>Rio Tinto spokesman David Outhwaite said the coal assets<br \/>\nbeing sold were too small for its portfolio.<\/p>\n<p><span><\/span><\/p>\n<p>Rio Tinto is also divesting from South Africa&#8217;s largest<br \/>\ncopper producer Palabora Mining but the company has<br \/>\ninvested elsewhere in the country, doubling its stake in<br \/>\nRichards Bay Minerals, a producer of titanium dioxide, earlier<br \/>\nthis month in a $1.9 billion deal with BHP Billiton.<\/p>\n<p><span><\/span><\/p>\n<p>Forbes Coal in a statement said the acquisition will boost<br \/>\nits total production by 39 percent to 2.5 million tonnes a year.<\/p>\n<p><span><\/span><\/p>\n<p>Forbes Coal is taking a 74 percent interest in the Zululand<br \/>\nAnthracite Colliery, a producing anthracite mine, and 74 percent<br \/>\nin the Riversdale Anthracite Colliery (&#8220;RAC&#8221;), an undeveloped<br \/>\nmine. The remaining 26 percent stakes in each asset are in the<br \/>\nhands of black economic empowerment partners.<\/p>\n<p><span><\/span><\/p>\n<p>Policy uncertainty and a wave of violent strikes in the<br \/>\nplatinum sector this year have unnerved some foreign investors<br \/>\nin South Africa&#8217;s mining sector.<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JOHANNESBURG, Sept 25 (Reuters) &#8211; Rio Tinto has agreed to sell two small coal assets in South Africa to Forbes Manhattan Coal for 440 million rand ($53 million) as part of its strategy to shed smaller operations. Rio Tinto spokesman David Outhwaite said the coal assets being sold were too small for its portfolio. Rio [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-14936","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14936","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=14936"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14936\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=14936"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=14936"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=14936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}