Middelburg, MPUMALANGA (miningweekly.com) – Diversified miner Exxaro Resources on Tuesday officially launched Arnot OpCo, the consortium through which the Arnot coal mine in Middelburg, Mpumalanga, will be owned and managed.
The former employees of the Arnot mine will have a 50% ownership of the mine and will participate in the structure of Arnot OpCo through a trust and Innovators Resources.
Innovators Resources was started by eight former employees who approached Exxaro management following the closure of the mine, and proposed an agreement for former employees to hold a stake in the mine.
The balance of the mine is owned by coal mining company Wescoal.
Speakers at a ceremony marking the occasion indicated that the mine closure led to upwards of 1 000 people losing their jobs, with ripple effects for the community, as well as other businesses directly and indirectly associated with the mine.
The mine has reserves of 190-million tonnes of coal.
Arnot OpCo will restart the mine and supply coal to Eskom's Arnot power station.