Eskom’s acting CE Matshela Koko has taken coal miner Exxaro Resources’ plan to ditch its 50%-plus black economic empowerment (BEE) ownership structure for 30% black ownership as an insult to the state-owned power company. Koko responded heatedly on Twitter on Tuesday to Exxaro’s news, tweeting that Exxaro had decided "to show Eskom a finger instead of radically transforming and has no decency to even engage on this matter". He also tweeted that "radical economic transformation is dealt a heavy blow by Exxaro". For the past two years, Eskom has implemented a policy of only signing new long-term contracts with coal suppliers that are more than 50% black-owned. But coal analysts have warned that it may run out of coal in future because of this policy as huge investments would require new entrants. Eskom consumes about 120-million tonnes of coal a year, worth about R45bn in 2016 that is now largely supplied by a handful of companies: Exxaro and multinationals like Anglo American, South3...

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