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Johannesburg - Diversified mining group Xstrata
and ARM Coal on Tuesday announced that their Goedgevonden Colliery has
signed a 17-year supply agreement with South African power utility Eskom.
Under the terms of the contract, Goedgevonden Colliery, a 6.7 million
tonne-per annum joint venture between Xstrata Coal and ARM Coal, will supply
about 60 million tonnes of thermal coal (3.5 million tonnes per annum) to
Eskom's Majuba coal-fired power station from December 2009 through to 2026.
Located in the Witbank coalfield in the Mpumalanga province, the
Goedgevonden mine will commence supplying coal to Eskom immediately.
Xstrata Coal South Africa's chief operating officer Murray Houston said
the contract was an important milestone for the greenfield Goedgevonden open
cut operation.
"This is a significant achievement for the Goedgevonden operation and
underlines our position as a major supplier of quality thermal coal to both
the domestic and export markets," said Houston.
In the meantime, ARM Coal chief executive Mangisi Gule said the
transformation of Goedgevonden from a greenfield project to a fully
operational colliery is a major step in the growth of ARM Coal.
"Reliable coal supply is absolutely essential for Eskom's success.
Goedgevonden is well placed to help meet the immediate needs of Majuba,
while maintaining the flexibility to meet potential increased demand in the
future if necessary, said Gule.
- I-Net Bridge