Eskom to receive capital support from government

South Africa's Treasury said on Friday it would transfer 3 billion rand ($19 million) next week to state-run power utility Eskom, part of a capital injection into the cash-strapped company.


EskomThe Treasury said the injection was part of a 23 billion rand fiscal support package announced last year and slated for three tranches. So far 15 billion rand has been allocated.
Meanwhile, South Africa’s Anglo American Platinum will cut up to 2,000 jobs at its Union and Twickenham mines, the company said on Friday.
“The Company expects approximately 2,000 jobs in total to be impacted by the proposed restructuring,” the company said in a statement.
The Treasury said it would work with Eskom over the next few weeks to manage the transfer of the remaining 5 billion rand.
Source Reuters

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