Anglo American subsidiary Anglo Coal signed the agreement with Inyosi – a consortium made up of the women-controlled Lithemba Consortium, investment company Pamodzi Coal, WDB Investment Holdings and local communities.
The deal will create Anglo Inyosi Coal – 73% owned by Anglo Coal and 27% by Inyosi.
Its key assets will include Anglo Coal's operating Kriel Colliery which produces 10.5 million tonnes for the domestic market.
Anglo Coal will fund the new company's project pipeline valued at 15 billion rand.
The prospective Elders, Zondagsfontein, New Largo and Heidelberg projects are expected to produce 45 million saleable tonnes for the domestic market and a further 3.5Mt for export, Dow Jones reported.
Under black economic empowerment laws, Anglo Coal has already established Eyesizwe Coal, Imbani Coal and Leeuw Mining, and the waiver of its rights in favour of HDSA companies at the expansion project at Richards Bay Coal Terminal.
Anglo Coal also has a 50:50 joint venture with Eyesizwe to mine the Arnot North coal reserves in Mpumalanga, South Africa.
