Arnot’s Business Rescue Faces Legal Challenge
Mid-tier coal producer Ndalamo Resources is the front-runner to acquire the embattled Arnot OpCo coal mine after the majority of the latter’s creditors gave its R435m bid the thumbs up. Ndalamo, established in 2013, is looking to add Arnot OpCo, which has a multiyear contract to supply Eskom with coal, to its growing portfolio of fossil fuels that are strategically located near the state-owned coal-fired power station in Mpumalanga. Arnot OpCo, which is half owned by JSE-listed junior miner Salungano and the other half in the hands of workers, was placed in business rescue in October. Also, read this update on how the creditors are at war over the Arnot OpCo rescue plan.