Eskom remains the biggest single provider of electricity and its tariffs are increasingly less affordable. The availability of energy is a clear and immediate challenge not only for South Africa, but the world. Reliability and security of supply are not guaranteed, and “load shedding” will cripple the global economy. However, even as nations are making way for renewable energy technologies, it is expected to continue needing coal for many years for its existing fleet. South Africa exports approximately 30% of its coal production, making it the world’s fifth-largest global coal exporter. Asia received nearly two-thirds of South Africa’s coal shipments, and the largest destination was India, which accounts for nearly half of South Africa’s coal exports. India is the world’s third-largest energy consuming country, due to rising incomes and improving standards of living. Its energy use has doubled since 2000, with 80% of demand still being met by coal and oil. India is set to more than double its building space over the next two decades, with 70% of new construction happening in urban areas. India’s building spree will shape its energy use for years to come. We believe coal will remain a significant source of global energy for the next 30 years. Clearly, the global transition from fossil fuels to clean energy generation will negatively affect the coal industry in the future, unless technology is developed to mine coal in an environmentally-friendly manner. However, we are already seeing some advances in CCS and HELE towards curbing carbon emissions. These complex trends present E&T with exciting opportunities into the future and we are shaping our organisation to take advantage of them. While we are focusing on coal exports to take advantage of current market conditions, we are supplementing our portfolio with optionality in other minerals such as chrome, copper, manganese and lithium and an investment in a solar PV project. We are well situated to understand changing market trends and adapt to them.
Emmanuel Ngulube, Co-founder/Chief Executive Officer

E&T has grown from humble beginnings in 2013, when Emmanuel Ngulube and Daniel Eyre ventured into a market dominated by long-established, large-scale corporations. The barriers to entry were high, and surmounting them required deep pockets. Although they had almost no knowledge of mining, Emmanuel and Daniel made up for their lack of experience by building relationships with more experienced players in the industry. They leveraged those relationships to establish a business that has survived some of the most damaging times in post-apartheid South Africa, both economically and politically. E&T has also built strong connections in the junior mining space, where start-ups with little to no money have learnt from our “go-getter” attitude, giving them the courage to tackle the intimidating challenges faced by anyone in the coal business. Many of these relationships have continued and many more are being forged with businesses and people who share our audacity in breaking down barriers into markets that were traditionally the preserve of a few privileged individuals and companies. Our relationships with bigger, more established companies have been fostered through mentorships in which E&T has seized every opportunity to add to its experience of dealmaking. Our ability to relate to both junior miners as well as to blue chip companies has enabled E&T to build bridges between people who would otherwise not have had any contact. In this document, we describe the partnerships we have formed and the importance of each one to our business. It will help you to understand E&T’s vision in forming these relationships and its road map for the future.
Daniel Eyre, Co-founder/Chief Operating Officer