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Coal

S.Africa's Exxaro Resources says Eskom withdraws force majeure on coal deals

Aug 14 (Reuters) - South African coal company Exxaro Resources said on Friday that Eskom had lifted force majeure on coal supply contracts to the state-owned utility’s Medupi and Matimba power stations.

Eskom had issued letters calling force majeure on the coal supply agreements with Exxaro’s unit for the period starting April 16 until one month after a national lockdown to curb the spread of the coronavirus pandemic had been completely lifted.

“As Eskom has been taking coal in accordance with the terms of the supply agreements, the impact of the force majeure event has been largely neutralized,” Exxaro, which is one of Eskom’s main coal suppliers, said in a statement.

Force majeure is an event referring to unexpected external circumstances that prevent a party to a contract from meeting their obligations. (Reporting by Yadarisa Shabong in Bengaluru)

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