Vaalkrantz retrenchments completed, KZN asset sale confirmation pending

June 2, 2016

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Coal producer Keaton Energy’s wholly owned subsidiary Leeuw Mining and Exploration (LME) has concluded a Section 189A process for the retrenchment of all 80 employees at its Vaalkrantz colliery in KwaZulu-Natal. Keaton has cited the ongoing global decline in coal prices, force majeure declared on LME by its biggest customer and the unavailability of water owing to the continued drought in the region as the reasons for placing Vaalkrantz on care and maintenance.

Category: General