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New bidder for Optimum Coal assets

South Africa’s state-owned African Exploration Mining and Finance Corporation, or AEMFC is leading a consortium that will submit a bid for the highly contested Optimum Coal assets.
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Eskom negotiates supply tonnage from Optimum

In terms of the coal supply agreement with Eskom, Optimum Coal Mine is obliged to supply 400 000 tons of coal to Eskom’s Hendrina Power Station each month at the price of R201,46 per ton.
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Gupta ghosts back to haunt Eskom

With winter fast approaching and electricity demand expected to peak, the Gupta ghosts have come back to haunt Eskom once again. After being severely burned by costly Gupta coal of dubious quality, the fleeing Guptas...
exxaro coal

The tangled web of the Guptas, Tegeta and Optimum coal mine

On 9 March, Kruger and Co Attorney’s decided to launch a court application on behalf of the National Union of Mineworkers to set aside the resolution taken by the directors of Optimum coal mine and...
exxaro coal

Court application to be launched for NUM at Optimum

“On behalf of the National Union of Mineworkers, Kruger & Co Attorneys will be launching a court application to set aside the resolution taken by the directors of Optimum coal mine and to remove...

Tegeta, Optimum Coal merger conditionally approved by Competition Commission

The proposed merger between Gupta-owned junior coal mining company Tegeta Exploration and Resources and Glencore-owned Optimum Coal Mine has been approved with conditions by South Africa’s Competition Commission. Tegeta is owned by Oakbay Investments and...

Tegeta offer for Optimum Coal considered only credible bid

Optimum Coal Holdings business rescue practitioners (BRP) have issued a statement confirming that Endulwini Mining did make a R1.5 billion purchase offer for Optimum mine last year but only Tegeta’s offer was considered credible. The...

Arnot power station: Eskom sources interim coal supply until April 2016

A new coal supply agreement for the Arnot power station, following Eskom’s tendering process, will be completed in March 2016. This is following the utility’s inability to renew its supply agreement contract with Exxaro...

Optimum Coal business rescue practitioners suspend Eskom coal supply agreement

Joint business rescue practitioners, Piers Marsden and Peter van den Steen on Thursday informed Eskom that they have suspended the coal supply agreement with Glencore's Optimum coal mine for the duration of the business...

Eskom seeks R2Bn penalty from Glencore for Optimum’s ‘poor quality’ coal

The relationship between SA power utility Eskom and mining giant Glencore continues to deteriorate as Eskom on Tuesday revealed it is seeking a R2 billion penalty from Glencore for its poor quality coal. Glencore is...