Grindrod will pocket nearly $70m from the sale of a stake in an African coal terminal.

The Johannesburg-listed tanker and bulker owner said energy trader Vitol has snapped up a 35% interest in the Maputo facility in Mozambique.

Grindrod has a concession to operate the terminal until 2033 with an option to extend for a further 10 years.

To date it has ploughed $70m into developing infrastructure and boosting capacity at the facility to its current six million tonnes per year.

But