It is reported that South Africa focused coal developer Zyl Ltd has appointed a unit of Macquarie Capital to advise on two approaches to buy or partner the company.

Zyl which is developing the Mbila and Kangwane steelmaking coal projects said the parties have signed confidentiality agreements to enable talks to take place, and it may consider any further expressions of interest.

Interest in coking coal assets located in southern Africa has surged this year due to the potential to develop mines that can supply consumers in Europe and Asia. The biggest deal saw Rio Tinto acquire Riversdale Mining, which had found billions of tons of coking coal in Mozambique, for nearly AUD 4 billion.

Monday, a person familiar with the matter said Anglo American is close to a USD 630 million deals to acquire a controlling interest in the Revuboe River coking coal deposit in Mozambique from the Talbot Group.

(Sourced from blogs.wsj.com)