Coal miner and trader Wescoal has finalized a series of coal supply contracts which will diversify its revenue streams and boost exports to one million tons of coal annually.
In a statement released on Wednesday the company said that, in terms of the new coal purchase confirmations, Wescoal would supply more than five million tons of coal from November this year to April 2021.
The company added the agreements would “further de-risk and provide certainty around future Wescoal cash flows and diversity of its revenue streams”.
Wescoal operates three collieries – Khanyisa, Intibane and Elandspruit which currently produce some 3mt/year and which the group intends to expand to around 8mt/year.
