for subscribers

Exxaro’s coal fight with Eskom heats up

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
(iStock)
(iStock)

Cape Town – A war of words erupted on Thursday between Exxaro Resources [JSE:EXX] and Eskom over the expired Arnot Coal Mine contract for Arnot power station.

Dissatisfied with the high prices of coal, the financially embattled Eskom ended its 40-year coal supply contract on December 31. Since then, Exxaro has shut down its operation at the mine, affecting 1 800 jobs.

While Eskom said an arbitration process continues with Exxaro, the mining company said the state-owned enterprise rejected its latest proposal.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
15.11
(-0.00)
ZAR/GBP
20.24
(-0.08)
ZAR/EUR
18.04
(-0.18)
ZAR/AUD
11.13
(-0.01)
ZAR/JPY
0.14
(-0.07)
Gold
1810.03
(+0.11)
Silver
23.27
(-0.26)
Platinum
966.00
(+0.77)
Brent Crude
48.73
(+1.57)
Palladium
2364.16
(+2.25)
All Share
57742.19
(-0.03)
Top 40
52940.79
(-0.20)
Financial 15
11641.10
(-0.29)
Industrial 25
79835.50
(-0.36)
Resource 10
52605.42
(+0.07)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
22% - 338 votes
No, I did not.
51% - 791 votes
My landlord refused
27% - 427 votes
Vote