Arnot InvestCo argues that the JSE-listed miner breached their agreement when it failed to provide funding
Disgruntled shareholders in Arnot OpCo coal mine have launched arbitration proceedings against JSE-listed Salungano after accusing the junior coal producer of not honouring its funding obligations.
Arnot InvestCo and Salungano each own 50% of a coal mine in Mpumalanga but their partnership ran into problems after the mine, which supplies coal to one of Eskom’s power stations, was placed into business rescue in early October due to a cash crunch...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
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