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Salungano applies to put subsidiary into business rescue, as contractor seeks its liquidation

Salungano applies to put subsidiary into business rescue, as contractor seeks its liquidation
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Wescoal is now trading as Salungano as it seeks to distance itself from fossil fuels

A rebranding comes as coal miners face mounting pressure to diversify away from fossil fuels.

Wescoal in a sweat spot - Moneyweb

Group plans to sweat its existing coal assets – but, intriguingly, is seriously considering investing into renewable energy projects.

Eskom signs coal supply agreement with Arnot mine

Eskom signs coal supply agreement with employee-owned Arnot mine for supply of coal to Arnot Power Station

Eskom is pleased to announce that it has entered into an agreement with Arnot OpCo (Pty) Ltd for the supply of coal for the Arnot Power Station. In terms of the agreement, Arnot OpCo will supply the full coal requirement for the life of Arnot Power Station. The coal qualities is coal of high quality, and if the need arises, it may be used at other stations. The coal qualities are for coal of high quality, and if the need arises, it may be used at other stations. The contract has an exit clause after Year 6 that may allow both parties to cancel the contract.  The agreement serves to secure coal supply and to meet the burn requirements of the power station by conveyor belt, replacing the current supply by road from various sources on short- to medium-term contracts, some of which were signed under emergency and urgent procurement. This transaction paves way for Eskom to reduce the costs of operating the Arnot Power Station while securing high quality coal at affordable prices.

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