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CODDLED COAL

7th February 2014

By: Darlene Creamer

  

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State enterprises Eskom and Transnet are coddling the emerging black coal juniors. Eskom is promising supply contracts that will also have export opportunities and Transnet is lining up rail transport and even potential port access. The black shareholding must be 50% plus one share to qualify for the mine development fund that Eskom is setting up and aspirant junior port builder RBT-Grindrod has Transnet looking promisingly at the black-led brownfield coal terminal in Richards Bay that will be fully mechanised. At the same time, the Richards Bay Coal Terminal (RBCT), which has been the owned coal outlet of the super majors for the past 38 years, is prepared to offer juniors another 19-million tons at RBCT once Transnet has satisfied its current 91-million ton capacity. As Mining Weekly cartoonist Darlene emphasises, a piggy bank from Eskom and a choo-choo train from Transnet – along with incubating from the not-for-profit Thebe Resources Incubator – juniors will be given unprecedented assistance.

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