RE: Renewables for Afirca12 Dec 2018 08:34
In the very first sentence, Eskom makes it clear: βEskomβs coal procurement policy requires all the mines that supply coal to its power stations to have a black ownership target of more than 50% throughout the life of the mine.β
According to Minerals Council senior economist Bongani Motsa it was this very policy, together with Eskomβs decision to end long-term coal supply contracts, that turned the local coal mining industry on its head. It in fact drove some of the majors out of the industry, Motsa told Moneyweb, and is largely the reason why Eskom is now battling with coal supplies.'
Really interesting read Tyfoon. Thanks. It's ridiculous that anyone thought that would work as a policy in the commercial world. It's a big chunk at current levels!
Although saying that, we seem to be relinquishing any credible position from which to comment on other countries political decisions thanks to our own countries current ineptitude. Oh well, at least our actions are indirectly increasing BMN profits!