State-owned diamond miner Alexkor will invest in a coal-washing plant in the Witbank-Middelburg area and use its relationship with Eskom to get a coal-supply agreement, acting CEO Vimal Bansi said in the company’s latest annual report. Alexkor has battled to make profits from its on-and offshore licence area in the Northern Cape, which is now operated as a pool-and-share joint venture after a settlement agreement with the local Richtersveld community several years ago. It has been looking for other options to diversify activities. Alexkor was negotiating with the owners of the coal plant who were keen to enter into a joint venture, Bansi said on Monday. It was taking all steps to ensure the business model satisfied the Public Finance Management Act and Treasury regulations. Coal would be sourced from junior emerging miners. Alexkor had commissioned a diamond cutting and polishing minifactory in Houghton and would open another in Alexander Bay, he said. In the year to March, the pool...
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