Historical Background

Arnot OpCo is a broad-based black empowerment transaction formed in 2020, facilitated by Exxaro Resources Ltd, the prior owner of the Arnot colliery and reserves. The transaction is the most broad-based and empowering of all B-BBEE transactions in the SA coal industry, considering the breadth and depth of community stakeholders and shareholders involved. The former employees of Arnot Colliery have 50% ownership of the mine and participate in the structure of AOC through employee trust and Innovators Resources.

The closure of the colliery by Exxaro in 2016 led to upwards of 1,500 people losing their jobs, with ripple effects for the local community and other businesses directly and indirectly associated with the mine. The Arnot OpCo transaction was thus able to preserve many of these businesses in the future.