South Africas Eskom reaches tariff agreement with BHP Billiton
reported SAPA news saying South Africa'spower utility Eskom has reached an in-principle deal with BHP Billiton thatwill release it from a tariff agreement which triggered book value losses. SAPA quoted Eskom acting chief executiveofficer and chairman, Mpho Makwana, as telling a parliament committee therenegotiated contract with the mining giant was subject to audit and should besigned on May 27. He added the contract to supply electricity to the miningfirm's Mozal and Hillside aluminium smeltersaccounted for 95% of Eskom's embedded derivative liabilities that led to a bookvalue loss of ZAR 9.5bn last year and that Eskom had been held to ransom by thelong-standing liability on derivatives that linked the tariff to aluminiumprices.
South African company Exxaro Resources said one of the options it currently considers is dismissing striking coal mine workers who fail to return to work in the week of March 25, fin24 reported ... more
South Africas telecommunication operator Telkom said that it has not made a decision on retrenching 13,000 employees, or more than half of its staff, TechCentral reported quoting a company ... more
Oryx Energies, a major independent provider of oil and gas products and services in Africa, has agreed to buy the South African liquefied petroleum gas (LPG) distribution businesses of BP and ... more
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