Arnot OpCo, the consortium through which the Arnot coal mine in Middelburg, Mpumalanga, will be owned and managed, was officially launched on the 11th of February 2020.
The former employees of the Arnot mine will have a 50% ownership of the mine, and will participate in the structure of Arnot OpCo through a trust and Innovators Resources.
Speakers at a ceremony marking the occasion indicated that the mine closure led to upwards of 1 000 people losing their jobs, with ripple effects for the community, as well as other businesses directly and indirectly associated with the mine. The mine has reserves of 190-million tonnes of coal.
The momentous event was attended by various stakeholders, who had the following to say:
“We are honored to be part of this groundbreaking initiative, and would like to congratulate everybody who saw this initiative reach this stage.” – Steve Tshwete Municipality Executive Mayor, Mr. BJ Tolo
“My plea to you is that we don’t just make this mine a success for us, but also for those who lost their jobs. It is up to us to make this mine a success. Let’s embrace the change that awaits us.” – Ms B. Aphane, Arnot OpCo CEO
“This company was founded on a good foundation. And with that we wish you the best.” – Exxaro CEO, Mxolisi Mgojo
Arnot OpCo will restart the mine and supply coal to various interested parties.
Here are some highlights from the launch event:
Photo credit: Strike a Pose