CEF welcomes the awarding of the Post Commencement Funding (PCF) for the Optimum Coal Assets to a consortium led by its subsidiary, the African Exploration Mining and Finance Corporation (AEMFC).
CEF has pledged R1 billion to support AEMFC’s strategic investment in the sector geared to support its growth trajectory.
Through this investment, CEF will not only secure South Africa’s future energy supply but also facilitates a long-term beneficial partnership with black owned companies in the sector.Central Energy Chairperson, Mr Luvo Makasi said, ‘this transaction happens at a time when the security of energy supply and jobs are threatened.
In our quest to secure South Africa’s future energy supply, we remain resolute to support government in addressing the triple challenge of unemployment, inequality and poverty’.
“As a group we are confident that this consortium, led by AEMFC will be able to bring back the optimal production of these assets in two years or less. The consortium has demonstrated a collective management expertise and technical skills in the management of coal mines”, he added.
For more details, please contact:
Mr Jacky MashapuManager Corporate Affairs:
CEF GroupCell: 071 485 6856
Tel: 010 201-4700
Editor’s Note:CEF SOC Ltd is a public-private company incorporated in terms of the Companies Act. It controls entities in the energy sector with commercial, strategic, regulatory and developmental roles, housed in four operating subsidiaries. These are the Petroleum Oil and Gas Corporation of South Africa (PetroSA), the South African Gas Development Company (iGAS), the Strategic Fuel Fund Association (SFF), Petroleum Agency of South Africa