Eskom signs coal agreement

2014-11-28 12:39

Eskom has signed a memorandum of understanding with Anglo American Inyosi Coal for coal supply to Kusile Power Station.

“The memorandum of understanding is about how we cooperate to progress the economy and the country to a bright future,” Eskom chief executive Tshediso Matona said today.

“Eskom and Anglo American are key pillars of the South African economy and we therefore cannot fail the country.”

The agreement, which was signed last Friday, would see a conveyor running from a coal processing plant to the power station, which is under construction near eMalahleni (Witbank), in Mpumalanga.

“The memorandum of understanding paves the way for the two companies to negotiate and conclude the commercial and technical aspects of the project, while in parallel further engaging on the strategic empowerment imperatives and objectives to achieve the Public Finance Management Act conditions which were part of the approval process from the department of public enterprises,” Eskom said.

Chief executive of Anglo American’s coal business in South Africa and chairperson of Anglo American Inyosi Coal, Themba Mkhwanazi, said the agreement came after months of negotiation.

“The purpose ... is to affirm that, while both Anglo American Inyosi Coal and Eskom are broadly aligned regarding Eskom’s empowerment imperatives, we need to establish a framework within which we can cooperate and achieve a mutually beneficial outcome,” he said.

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