Transnet signs deal to help unlock Waterberg coal

Transnet signs deal to help unlock Waterberg coal

22.11.2019

Transnet signs deal to help unlock Waterberg coal

Area is known to hold significant reserves but logistics have been a hurdle for investment in new mines

On Thursday, the state-owned logistics company signed a 10-year contract with Ledjadja Coal, a fully empowered subsidiary of JSE-listed ResGen, to haul 3.6-million tons of export coal from its Boikarabelo coal mine to the Grindrod Terminal at Richards Bay. ResGen is also listed in Australia. Its largest shareholder is the Public Investment Corporation, which holds a 14% stake.

Fanucchi said the deal will also open up an opportunity for Botswana coal to be exported through SA.

ResGen interim CEO Leapeetswe “Papi” Molotsane said securing the railway capacity was a milestone for the company and will result in economic benefit for the Lephalale area as it will create 700 permanent jobs and 3,000 more during construction.

“It’s a worldwide trend,” he said. “If you look at the country’s coal requirements, the fact that the bulk of our electricity is generated from coal, we will probably still require coal, as a country, for some time to come.”

Read more: Business Day

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