BHP said it had reached agreement to sell the thermal coal mine, together with 6.5 million tonnes per annum of Richards Bay Coal Terminal entitlement, to Optimum Coal Holdings.
OCH is a broad-based BEE grouping led by Eliphus Monkoe, a previous chief operating officer of BHP Billiton Energy Coal South Africa.
The sale is effective from July 1, 2007; however, BHP said it would continue to manage and operate the colliery until completion.
BHP will also acquire and market substantially all export coal from Optimum over the life of the mine.
Optimum Colliery is located 200km east of Johannesburg in Mpumalanga Province. It supplies energy coal to Hendrina power station as well as for export.
The mine produced 11.6Mt of saleable steam coal in the 12 months to June 2007, including 5.4Mt of export coal, and has a workforce of 1070 employees and 1397 contractors.
