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CEF Welcomes the Awarding of Optimum Coal assets to its Subsidiary LED Consortium

CEF welcomes the awarding of the Post Commencement Funding (PCF) for the Optimum Coal Assets to a consortium led by its subsidiary, the African Exploration Mining and Finance Corporation (AEMFC).

CEF has pledged R1 billion to support AEMFC’s strategic investment in the sector geared to support its growth trajectory.

Through this investment, CEF will not only secure South Africa’s future energy supply but also facilitates a long-term beneficial partnership with black owned companies in the sector.Central Energy Chairperson, Mr Luvo Makasi said, ‘this transaction happens at a time when the security of energy supply and jobs are threatened.

In our quest to secure South Africa’s future energy supply, we remain resolute to support government in addressing the triple challenge of unemployment, inequality and poverty’.

“As a group we are confident that this consortium, led by AEMFC will be able to bring back the optimal production of these assets in two years or less. The consortium has demonstrated a collective management expertise and technical skills in the management of coal mines”, he added.

For more details, please contact:

Mr Jacky MashapuManager Corporate Affairs:

CEF GroupCell: 071 485 6856

Tel: 010 201-4700

E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Editor’s Note:CEF SOC Ltd is a public-private company incorporated in terms of the Companies Act. It controls entities in the energy sector with commercial, strategic, regulatory and developmental roles, housed in four operating subsidiaries. These are the Petroleum Oil and Gas Corporation of South Africa (PetroSA), the South African Gas Development Company (iGAS), the Strategic Fuel Fund Association (SFF), Petroleum Agency of South Africa

Last modified on Thursday, 22 August 2019 12:08
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Vision and Mission

Vision
 To secure reliable and affordable diversified energy security solutions for the South African economy by 2030.


Mission
To provide and enable sustainable energy security solutions for South Africa in order to contribute to economic development and alleviate poverty in an environmentally responsible manner.

About CEF

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CEF SOC Ltd. is involved in the search for appropriate energy solutions to meet the energy needs of South Africa, the Southern African Development Community and the sub-Saharan African region, including oil, gas, electrical power, solar energy, low-smoke fuels, biomass, wind and renewable energy sources.