November 16, 2018 / 8:35 AM / 6 months ago

South Africa's Eskom to revise coal contract strategy

JOHANNESBURG, Nov 16 (Reuters) - South Africa’s cash-strapped power utility Eskom said on Friday it had revised its coal strategy to revert coal supply to long-term fixed-price contracts and extend contracts for “cost-plus” mines.

Eskom, which has warned of possible power outages after low coal stockpiles, said it would in the short term purchase four million tonnes of coal for immediate supply to recover all power stations to above the minimum required level by the end of March 2019. (Reporting by Alex Winning Editing by James Macharia)

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