Seriti Resources will acquire coal assets from South32 Ltd. next month after South Africa’s Eskom Holdings SOC Ltd. agreed to pay more for fuel supplied from those mines to a key power station.
Seriti plans to buy South32 Ltd.’s South Africa Energy Coal, which supplies most of the coal for Eskom’s 2,875-megawatt Duvha power station under a contract price of 416 rand ($29.42) a ton. The utility has agreed to a price of 550 rand a ton from next month, with annual inflation adjustments through 2024, Seriti said. Under the existing terms, the coal operation was “loss-making, with increased ...
