Eskom warns Anglo over coal assets
There will be no restructuring at Anglo American without permission, the power utility says
Anglo American would not restructure any coal assets that belonged to Eskom without its permission, Eskom interim CEO Matshela Koko said on Tuesday. Eskom does not own any mines. But is has historical contracts with a number of mining companies such as Anglo American and Exxaro whereby it not only pays for the coal it sources from these mines but also pays for the development of the mines themselves. It was these developments that entitled Eskom to be consulted, Koko said. However, in the past couple of years these coal contracts have been a cost to the company and Eskom has been vocal about exiting contracts with the cost plus mines. "They are our assets, we will decide what to do with them, they are free to do what they want to do with their own assets but the ones that belong to Eskom we will decide on what to do with them," Koko said. Anglo American, which mines coal for Eskom, has three coal assets that belong to Eskom — Kriel, New Denmark and New Vaal. Eskom did not renew its ...
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