https://www.engineeringnews.co.za

Wescoal ‘leaps’ into 2017 following a successful 2016

Wescoal ‘leaps’ into 2017 following a successful 2016

Photo by Duane Daws

12th January 2017

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

     

Font size: - +

JOHANNESBURG (miningweekly.com) – With a successful 2016 under its belt, JSE-listed Wescoal is optimistic of the year ahead as it leverages a series of milestones and initiatives to support its aspirations for eight-million tons a year of run-of-mine (RoM) and its revenue diversification strategy.

During the past year, Wescoal concluded contracts with State-owned power utility Eskom and export coal sale contracts and secured an equity injection through a black economic-empowerment (BEE) deal, which bodes well for further inorganic, acquisitive growth, as well as unlocking organic growth options through the expansion of Elandspruit colliery and operationalising the Khanyisa colliery.

Wescoal’s five-year coal supply agreement with Eskom, which started on November 1, will see the delivery of some 7.8-million tons of coal beneficiated at Wescoal’s processing plant, which equates to 165 000 t/m RoM coal from Elandspruit.

The group also concluded export contracts for more than one-million tons a year for the next three years, significantly derisking and diversifying the miner’s future revenue streams.

Further, in December, a five-year 51% direct BEE deal was successfully concluded and implemented, with the R178-million capital injection earmarked for use in acquisitions.

Edited by Creamer Media Reporter

Comments

Latest News

Image of Icasa chairperson Councillor Mothibi Ramusi
Icasa officially appoints new chairperson
22nd April 2024 By: Natasha Odendaal

Showroom

Showroom image
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 
Rio-Carb
Rio-Carb

Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.148 0.203s - 156pq - 2rq
Subscribe Now