[miningmx.com] – MALUSI Gigaba, public enterprises minister, said there had been progress in efforts announced in December last year to establish a fund for the financing of a new, black-controlled junior coal mining industry.
“To date, significant work has been done to establish the fund, which will go into operation by the end of the 2013-14 financial year,” said Gigaba.
Gigaba said there had been engagement with established miners, the Chamber of Mines, the South African Mining Development Association (Samda) and emerging miners in the coal and limestone value chain.
The push for new coal production is part of Eskom’s requirement for coal to fuel its power stations. According to the utility, there is some 2 billion tonnes of uncontracted coal that it requires by 2040.
