The Competition Tribunal has approved a merger whereby New Largo Coal intends to acquire the New Largo Business of Anglo American Inyosi Coal (AAIC).
New Largo Coal is jointly controlled by Seriti New Largo and the Industrial Development Corporation of South Africa.
New Largo Business is controlled by AAIC, which is, in turn, controlled by Anglo American South Africa, and comprises a coal mining project under development, a closed colliery and a conveyor belt project, which is also in development.
The transaction relates to the prospective mining of coal and the supply thereof to State-owned power utility Eskom.