RE: 500,000 DT1 Sep 2019 17:05
Hi CC.
Eskom falling would not be great for SA/BMN as you say but you are bundling many opinions as if they are linked together.
At present BMN are making plenty of money without Eskom, so saying that if Eskom go under this would be the death knell for BMN is overstated. MN and Fortune have quoted they have been in discussions with hundreds of companies so I'm sure their fingers are in many pies and contingency plans are in place. The Avalon battery leasing contract is just one curveball away from Eskom.
BMN will be part of the solution to save Eskom, offering mini-grids like they will soon have online at Vametco and hopefully many more mines in the future.
The article you posted discusses Eskom will use IPP's and PPP's to help restructure Eskom. The World Bank will fund the energy storage side of things as you should know.
''Step 3 would be the creation of a competitive generation sector. This could be in the form of a handful of unbundled former Eskom generators, a limited number of public-private partnership (PPP) generators, a few hundred renewable energy and other independent power producers (IPPs), and several thousand distributed, small-scale, embedded generators.''
Regarding unions against BMN; we do not need to worry about that, whatever happens at Eskom and their unions.
"We are delighted to announce the successful completion of the wage negotiations with AMCU for the next three years, which eliminates the risks of strikes relating to wage negotiations and highlights the ongoing cooperative relationship with our workforce and AMCU. We continue to work on finalising an Employee Share Ownership Participation structure, which will allow our workforce to share in the success of the Company.''
You bring up the Mantashe's support for coal-mining as a reason for not approving Mokopane. Which again has no evidence as it maybe following due process.
Do not also forget BMN own a coal mine in the works themselves, so not just a one trick pony.
All investments have big risks and you would think most investors knew about SA and their political situation before investing. I just think you should let things go after being upset by a few visitors on the other board, After all you admit you haven't bought back in.