From an Exxaro point it's a good thing all round for them. Namely closure & rehabilitation costs will cease & all obligations from signature date will then cease also.
Wescoal get to look like shining knights coming in to save the day...they also buy out minorities in 2yrs (or costly litigate them away see below.... keep the main okes running the show & hey presto they have another suite of processing equipment & a profitable mine situated in Mpumalanga all for R100mil (to start...? not sure of life of Arnot will have to check.
This is bourne out of hey days of Gupta influence on Eskom. Create a crisis so they could circumvent procedure & sign short term supply agreements at stupid money per ton of coal.
Hats off to the employees who after 4yrs of nothing now look like they've pulled off something neither business rescue nor Exxaro were interested in achieving.
Big statement I know but here goes... Wescoal are the next Exxaro in the making.....
Have a good day
Oh & do your own homework....Geez nearly forgot that...!
Edited by soutie, 01 March 2019 - 09:06 AM.