OFFTAKE AGREEMENT SOUGHT
Buyers show interest in coal from Keaton’s Moabsvelden
The coal miner is in talks with several possible buyers, including Eskom and traders sourcing coal for India
29 November 2016 - 06:49
Coal miner Keaton Energy was talking to several possible offtakers, both Eskom and traders sourcing coal for India, for its Moabsvelden mine, CEO Mandi Glad said on Monday. With an offtake agreement, Keaton can approach financiers for the R300m capital it needs to build Moabsvelden. The mine was originally planned to supply only Eskom, but it would be easier to export its product since Eskom insists it will sign new coal offtake agreements only with suppliers that are 51% black owned.
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