Exxaro’s coal fight with Eskom heats up

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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.

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