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Total sells South African coal mining assets

8:24 AM MDT | July 28, 2014 | Natasha Alperowicz

Total announced today that it has signed an agreement with Exxaro Resources (Pretoria) to sell its 100% stake in Total Coal South Africa (TCSA), its coal-producing affiliate in South Africa, for $472 million. The sale is subject South African authorities' approval. “This sale is part of the group’s 2012–14 asset sale program and is in line with Total’s objectives to focus on its core activities and to actively manage its portfolio,” says Philippe Sauquet, president/gas and power at Total. “While Total has made the necessary...

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