Anglo America plans to build a power plant in south Africa to supply power to its platinum subsidiary Anglo platinum. The head of the coal division Norman Mbazima was quoted saying that it would cost more than $1bnnear witbank in eastern Mpumalanga.
The plant is scheduled to start production in 2015 and will greatly reduce Anglo-Americas reliance on the local power suppliers like Eskom’s large price increases. South Africa has been failing to meet the power requirement which has slowed the companies progress in production, supply will remain limited until the new Eskom plants start production next year.
Anglo-America has aslo been given the go ahead to buy out diamond giant De Beers from the Oppenheimer family. the buy out is estimated to be worth almost $5.2billion dollars, the tribunal has approved the transactions without condition.
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