Slide in BEE ownership to 30% won’t affect Eskom supply deals, says Exxaro

Diversified miner Exxaro Resources has assured investors that despite its black ownership falling below the 51% required by State-owned power utility Eskom for all its supply contracts, this will not affect its existing supply contracts with the utility. The company is set to introduce a new black economic empowerment (BEE) scheme that will result in its black ownership shareholding dropping from the current 50.1% to 30%.