|
|
Enron Mail |
Mike / Jeff -
Please find attached a copy of the slide presentation Eskom (the state owned utility in South Africa) will give to the Minister of Energy in early Dec. Eskom, as a state owned entity, is involved in the development of the Black Economic Empowerment mines (ie New Coal) as well as the traditionally white-owned Junior Miners. Eskom is a strong proponent of the expansion of Richards Bay Coal Terminal or alternately the development of South Dunes Coal Terminal. As the Eskom presentation details, Enron is included in their plans to expand their role in the RSA coal business regardless of which terminal is developed. Project Springbok is moving along well, and should result in increasing flows from South Africa next year. As a note Tom Kearney (London) and Ivan van Niekerk (Joburg) have led this effort. Ivan is with Enron Metals, but it seems we have been able to borrow him on a virtual full time basis - he has been great. ---------------------- Forwarded by George McClellan/HOU/ECT on 11/30/2000 02:07 PM --------------------------- Tom Kearney 11/30/2000 11:58 AM To: George McClellan/HOU/ECT@ECT cc: Samuel Grossman/LON/ECT@ECT, Stuart Staley/LON/ECT@ECT, Ivan van Niekerk/The Metal & Commodity Co Ltd/MGLTD@MGLTD Subject: Eskom George, Eskom is presenting the attached document informally to the SA Minister of Energy over the weekend. Iscor has approved the concept (but don't know Enron is behind it) and the Eskom Enterprises Board has approved it (who do know we are behind the concept). Under the structure of the transaction, in exchange for providing the same throughput guarantees as other SDCT members, Enron would be allocated up to 2 mta of the expanded RBCT allocation in perpetuity. For a limited period (Francois mentioned 5 years), Black Economic Empowerment coal projects approved by Enron/Eskom/Govt. would have first call on the Enron allocation. In addition, if it so chooses, Enron would be responsible for marketing the BEE coal in export markets. Enron would become a full-fledged member of the SDCT and would be represented on the RBCT Board by an SDCT representative (which could be Enron as well). Bottom Line: This is our informal invite to the dance. RBCT is supposed to formally communicate with SDCT about expansion on December 6. On December 7 the SDCT interest group meets. Shortly after that, Eskom will make this proposal to government on a formal basis and then, if Government and SDCT members approve, Enron will be invited to join the SDCT as a formal member. Let the games begin! ---------------------- Forwarded by Tom Kearney/LON/ECT on 30/11/2000 16:32 --------------------------- "Francois Badenhorst" <Francois.Badenhorst@eskom.co.za< on 30/11/2000 13:30:14 To: <Tom.Kearney@enron.com< cc: Subject: PRESENTATION 30 November 2000 Regards Francois Badenhorst - BEECoal Export Ind.ppt
|