Arnot OpCo signs ten-year Coal Supply Agreement with Eskom

South African coal mining company Arnot OpCo (Pty) Ltd (“mining company”) has entered into a long-term coal supply agreement with Eskom to provide coal for the next ten years from its Middelburg based mine. The coal supply agreement (CSA) marks the conclusion of months of negotiations with the power utility, which commenced mid-2020 following the company’s launch through a consortium led by Exxaro’s former employees, who were retrenched in 2015 when Arnot mine was decommissioned. The former employees own 50 per cent of the mine through a trust and a company they established called Innovators Resources. The balance of the mine is owned by mining company Wescoal.