November 27, 2017 / 6:11 AM / 10 months ago

Australia's South32 looks to reduce interest in South African coal business

(Reuters) - Australian miner South32 Ltd said on Monday that its South Africa Energy Coal (SAEC) business would be run on a stand-alone basis and that it would also look to widen SAEC’s ownership, possibly listing it on the Johannesburg Stock Exchange.

The company added in a statement that it would invest 4.3 billion rand ($305.14 million) in SAEC’s Klipspruit Life Extension project (KPSX).

($1 = 14.0921 rand)

Reporting by Aaron Saldanha in Bengaluru; Editing by Joseph Radford

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