Free Trial

Eskom Inks Duvha Coal Agreement - Opening Up Seriti's South32 Coal Takeover

SOUTH AFRICA
  • Eskom agrees to pay a higher price for coal for its Duvha power station (R550/ton) from 1 June 2021 to 2024 -paving the way from the sale of South32 Energy Coal to Seriti Resources
  • Since 2019 South32 says it had been selling to Eskom below its cost of mining at R280/ton
  • Eskom also agreed to annual price increases in line with PPI from 1 Jan 2022
  • Eskom CEO says this development ensures the supply of coal to Duvha, improving security at a price that is affordable to Eskom
  • Eskom & Seriti have agreed to a number of proposals to improve the sustainable, cost effective and long-term supply of coal to Eskom, including from the Kriel & New Largo mines – News24
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.