Anglo Coal has created a R7 billion coal mining firm in which black investors will buy a 27 percent shareholding.
The creation of Anglo Inyosi Coal, announced yesterday, is sure to help the Anglo American subsidiary get mining licence applications approved by the department of minerals and energy.
Pamodzi Coal, chaired by Ndaba Ntsele, and Lithemba each own 33 percent of the black investor grouping, Inyosi. WDB Investment Holdings, which represents poor women in Mpumalanga and Limpopo, owns 19 percent of Inyosi, and communities around the coal mines hold 15 percent.
Anglo American has been struggling to convert its coal and platinum mining licences from the old order to compliance with the mining empowerment charter.
Of Anglo Coal South Africa's 10 coal mining operations, only the Goedehoop colliery near Witbank has received a new order mining right, which covers only part of the colliery's mining area.
Under the new mining law that became effective in 2004, mining companies have to comply with a number of requirements to gain new order mining permits.
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