A new player has been introduced to the South African coal mining market, saying it will be able to sell coal to Eskomat a cheaper rate.
Eskom has been battling to keep the lights on due to high coal prices and compromised quality.
Newly formed Sibambene Coal says plans are already underway to acquire assets, with its directors not ruling out the possibility of buying some of South32’s coal mines which are up for sale as it shifts away from coal mining.
Sibambene Coal is a consortium including the Inkanyeli Group which is wholly owned by black women.
Menar Holdings founder Vuslat Bayoglu, who is also involved in the consortium, says there is a need for more transparency and new players in the coal industry.
“We can give Eskom coal at a cheaper price and we are also lobbying and saying that Eskom should have an index price system.”