Beacon of hope now fading into the gloom
Arnot OpCo, created by former miners and regarded as a new worker co-operative model, is in business rescue
What was supposed to be an exemplary employee equity model where workers used their own money to acquire a 50% stake to save a mine that was going to close and retrench has instead turned into a nightmare.
Arnot OpCo was created in 2019 and was seen as a beacon of hope after Exxaro's coal supply agreement to Eskom’s Arnot Power Station ended in 2015. ..
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