The deal is set to create scores of jobs as the coal miner will again begin to supply coal to Eskom.
Coal miner Wescoal holdings limited has announced it has received the government’s approval to own 50% of Arnot coal mine.
Arnot was closed down by Exxaro Resources in 2015 after the company failed in its efforts to negotiate a new coal supply agreement with Eskom.
Wescoal announced it had bought a 50% stake, taking over the assets, liabilities and the employees in the Mpumalanga operation.
The stake was bought from Exxaro Coal Mpumalanga Proprietary in partnership with a company called Innovators Resources Proprietary Limited.
Mineral resources minister Gwede Mantashe approved the acquisition a week ago, Wescoal said.
They were waiting for the minister’s green-light with regards to mining rights for transactions to go ahead.
Wescoal said Mantashe’s approval came last Friday (26 Apr).
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The only one thing left is for Arnot to be transferred to a company called Arnot OpCo. All agreements and rights will now be held by Arnot OpCo.
The partnership between Wescoal and Innovators Resources comes as a way of sort of compensating the hundreds of workers who were affected by the December 2015 shutdown. They got retrenched.
The workers are the shareholders in the company Innovators Resources and a week ago they had Mantashe handing over the shares to them.
“Importantly,” Wescoal said, “this is a significant broad-based empowerment transaction which will secure employment and provide employees and communities around the mine with equity participation as outlined in the Mining Charter III and we are excited that Wescoal Mining is the enabling partner in the relationship with IR”.
Arnot Mine is near the Arnot power station and coal can be delivered to the power station through a conveyer belt, it said.
“[This will] result in a cost competitive advantage with minimum carbon emissions environmental impact.
“In this regard, Arnot OpCo has responded on 2 April 2019 to the Eskom Request for Proposal (RFP) to supply coal to the Arnot Power Station.”
He addressed scores on Saturday morning in Mpumalanga.
ANC national chairman Gwede Mantashe has rejected the impression of a highly divided ANC, saying what exists there is a top 6 and not a top 3.
Mantashe, who was elected the chair on a slate of President Cyril Ramaphosa together with treasurer Paul Mashatile at Nasrec, told scores who attended the party’s 106th birthday celebration at the Elukwatini stadium, Mpumalanga that they are not a top 3.
“We are a top 6,” the chair said to applause.
“The ANC today is led by a Buffalo, deputised by a man called Unity and the secretary is Ace Magashule. Do not send SMSes and WhatsApps to me. Send them to Ace, he is the secretary and deputised by Jessie Duarte. The treasurer is Paul Mashatile,” Mantashe said.
“We are 6. We are not 3-3, we are not 4-2 or 1-5. We are six. That’s what you must know,” Mantashe said to applause.
He said when the ANC went to its 54th conference it was divided between those who supported NDZ and those who supported CR but “delegates did something very amazing”.
“They took people from the NDZ camp and those from the CR camp and merged them,” he said.
“They said we don’t want CR, we don’t want NDZ. We want ANC,” Mantashe said.
He then warned those who were not prepared to respect the newly elected leadership to be careful of ‘punishment’.
He said they hoped all ANC members will accept the “directives of the delegates” and not undermine each other based on the fact that others were NDZ and others were CR.
“If you don’t recognise an elected leadership you are not being purged. But you are being punished and this punishment is to teach you to know that in any organisation we respect an elected leadership,” he said.
He called on all to be patient as talks between Ramaphosa and head of state Jacob Zuma are continuing.
“We must take the ANC to the people. We must unify our country. We must unify society and mobilise our allies behind the program of the ANC and these are the tasks given to us in the January 8 statement,” he said.
The beleaguered news channel reported that President Jacob Zuma was forced to go to the Cosatu event.
Gupta-owned ANN7 has been slammed for reporting that deputy president Cyril Ramaphosa, national secretary Gwede Mantashe and national treasurer Zweli Mkhize forced President Jacob Zuma to attend the Cosatu event on May Day.
Zuma was booed and heckled by Cosatu members during the event in Mangaung, resulting to Cosatu cancelling the event and all speeches.
The party said the deployment to the event was a collective decision taken by all national officials.
“Further, it was a decision taken by the national officials fully aware of the potential for heckling,” it said in a statement on Wednesday.
ANN7 said Zuma was “pushed” by the three leaders but the ANC rejected this, saying such reports, “devoid of truth”, were typical of ANN7.
Cosatu earlier this year took the resolution that Zuma should step down and two of its affiliates said allowing him to address workers would send a conflicting message.
The federation wants Ramaphosa to take over as Zuma’s successor and is opposed to the bid of an ANC lobby group linked to Zuma – the so-called Premier League – wanting Nkosazana Dlamini-Zuma to succeed the president.
“Members of the media have a responsibility to report the news accurately, factually and objectively.
“ANN7 however seems determined to manufacture false consensus, sharpening contradictions and deepening fissures in the ANC.
“The station effectively acts as a mouthpiece of the factional divisions that plague the African National Congress, consistently showing itself as being intent on driving wedges within the organisation and pitting comrade against comrade,” the ANC statement read.
ANC Mpumalanga chairman David Mabuza is the one who first openly criticised Deputy President Cyril Ramaphosa and Secretary-General Gwede Mantashe for being ‘ill disciplined’ but now Mantashe has hit back, saying Mabuza was ‘mischievous’ and didn’t understand ANC policies.
ANC national secretary Gwede Mantashe has hit back at ANC Mpumalanga chairman David Mabuza, saying himself would not allow the ANC “to be shaped in the image of DD Mabuza”.
Mantashe was speaking during an interview with News24 on Monday following comments made by the Mpumalanga premier that both the secretary general and deputy president Cyril Ramaphosa were ‘ill-disciplined’ for questioning why President Jacob Zuma reshuffled his cabinet without consulting the top 6.
Mabuza told journalists in Acornhoek after welcoming members of the Bushbuckridge Resident Association on Sunday mid-day that both Mantashe and Ramaphosa forget “they were not Presidents” and that only the President had the prerogative to reshuffle cabinet.
Mantashe said ANC policies allowed the President to do that but after consulting the ANC.
“What I don’t agree with is that people must call us names, because we have taken a stance, and make us toy telephones,” Mantashe told News24.
“[If] we don’t need to be consulted, therefore there is no need to elect the six officials,” Mantashe said.
He said that if that was the case, then only one individual would run the ANC.
Mantashe, Ramaphosa and national treasurer Zweli Mkhize have criticised Zuma’s sacking of former finance minister Pravin Gordhan and his deputy Mcebisi Jonas on Thursday night (30 Mar).
Mantashe said the list of the new ministers and deputies was created ‘somewhere else’, an indirect reference that it had a Gupta hand, while Ramaphosa said the intelligence on which Zuma based his calling off of Gordhan and Jonas from an overseas investment roadshow before sacking them was “not substantiated” by anything. (edited by MLM)