On Friday, Eskom were delighted to announce that they had signed a Memorandum of Understanding (MoU) with Anglo American Inyosi Coal, Eskom said in a statement.
The MoU was signed on Friday 21 November concerning the development of the Largo project, which will supply coal to the Khusile coal-fired power plant in the Mpumalanga Province.
The MoU creates a platform for the two companies to discuss and finalise the commercial and technical sides of the initiative while mapping out the way forward to achieving the objectives set by the Public Finance Management Act. The requirements set by the Public Finance Management Act were included in ‘approval processes’ by the Department of Public Enterprises, said in a statement.
Mr Tshediso Matona, CEO of Eskom said the MoU would drive the economy forward, improving the overall developments of the country.
‘The MoU is about how we cooperate to progress the economy and the country to a bright future. Eskom and Anglo American are key pillars of the South African economy and we therefore cannot fail the country’, he said.
The hard work and dedication from both companies towards singing the MoU was highlighted and given praise by Matona.
This sentiment was echoed by Themba Mkhwanazi, CEO of Anglo American coal in South Africa and Chair of Anglo American Inyosi Coal:
‘This MoU is a culmination of months of negotiations and enables the continued implementation of the New Largo project. The purpose of this MoU is to affirm that, while both Anglo American Inyosi Coal and Eskom are broadly aligned regarding Eskom’s empowerment imperatives, we need to establish a framework within which we can co-operate and achieve a mutually beneficial outcome’.