CROSSING SWORDS
Mmakau Mining chairperson Bridgette Radebe and Mineral Resources Minister Ngoako Ramatlhodi have reportedly crossed swords over the Minister’s ratification of the sale to the JSE-listed Exxaro of Total Coal South Africa (TCSA). Mmakau is the 26% black economic-empowerment (BEE) partner in TCSA’s Dorstfontein and Forzando collieries. Black-controlled Exxaro has let it be known that it will be creating additional broad-based BEE participation in the investment, which will be over and above Mmakau’s BEE ownership and its own 52% black ownership, which has been sufficient to confer BEE status on others but insufficient to free it from the obligation of providing extra BEE input to these formerly French-held coal assets in the Mpumalanga coalfields.
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