29 May, 2013

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29 May 2013 | Andy Allen

State-owned South African energy firm Eskom must source at least 50 per cent of its annual coal requirement from black coal miners by 2018.

The government order comes under the Black Emerging Miners strategy, an initiative to increase black participation and ownership in the coal-mining sector.

South African public enterprises minister Malusi Gigaba said the plan would be “a significant act of transformation”.

Gigaba said the government was looking for ways to “radically accelerate the promotion of black industrialists and the entrance of youth- and women-owned businesses into the mainstream economy”.

He said that in 2012, Eskom spent 86.3 per cent of its R120 billion (£8 billion) total procurement budget on suppliers owned by black people, exceeding the target of 70 per cent.

Eskom expects to spend more than R200 billion (£13.5 billion) on coal over the next five years.





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