South African Coal Miner Plans New Climate Change Strategy
South Africa’s Exxaro Resources Ltd. said it is working on a new strategy for its business founded on coal mining amid investor and public concerns about the impact of climate change.
Coal insurance prices around the world are increasing, only a matter of time before it reaches Poland.
“The cost of insuring your mines is getting more expensive because of your carbon issues,” Mgojo said in an interview in Johannesburg.
Exxaro says it’s responding to carbon-constrained environment.
A similar increase in prices as soon as Exxaro Resources Ltd. in the coal sector owned by the State Treasury
will start to feel similar prices, which is another reason to abandon plans to build new mines and power plants
and shut down the oldest and most polluting and economically inefficient coal blocks and hard coal mines as soon as possible.