Exxaro terminates Group 5 contracts

Exxaro has decided to terminate its agreement with Group Five Construction subsidiary, Group 5 Projects, with effect from March 21, following Group Five’s announcement that it has embarked on business rescue proceedings. Exxaro in April 2017 appointed Group 5 Projects to build a new small coal plant as part of the Grootegeluk Plant 6 (GG6) expansion project at its Grootegeluk mine, near Lephalale, in Limpopo.