https://www.miningweekly.com

Former Exxaro employees receive shares in Arnot mine

1st May 2019

     

Font size: - +

Mineral Resources Minister Gwede Mantashe on Wednesday officially handed over a 50% shareholding held by mining company Exxaro in the Arnot coal mine, in Middleburg, Mpumalanga, to former Arnot Coal employees.

In a statement, the Department of Mineral Resources highlighted the handover as an industry milestone towards the inclusion of workers as meaningful stakeholders, as enshrined in the Mining Charter which came into effect in 2018.

A Section 11 approval in terms of the Mineral and Petroleum Resources Development Act was granted by the department last week and will result in 50% of the Arnot coal mine being owned by the former Exxaro employees.

The balance will be owned by Wescoal.

The former employees and mineworkers will reopen the mine and supply coal to power utility Eskom.

Edited by Creamer Media Reporter

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION