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Wescoal’s shares rise on signing of long-term Elandspruit supply agreement

JSE-listed Wescoal’s shares rose 17% on Wednesday after the company announced that it had signed a long-term coal supply agreement (CSA) with Eskom for the Elandspruit colliery. “This brings to fruition a major project for the Wescoal team. This long-term position significantly de-risks future cash flows and in the short to medium term enables us to repeat the results achieved during the second half of the 2016 financial year,” CEO Waheed Sulaiman said.