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Guptas and Zwane drove Glencore to sell colliery at
Outlining the events leading to the virtual collapse of the Optimum colliery which had supplied Eskom s Hendrina power plant in Mpumalanga for more than 40 years former CEO of Glencore Coal SA
Glencore acquires controlling stake in Optimum Coal
Commodities trader Glencore International said on Tuesday it had acquired a further 36 56 interest in the Optimum Coal following unconditional approval by the South African competition authorities
Glencore announces closures at Optimum Coal Mine
Pestaloz Johannesburg South Africa 01 July 2015 Glencore announces closures at Optimum Coal Mine opencast operations As announced in July 6 2015
Glencore to sell Optimum Coal Mine in South Africa for
An entrance to the Optimum Kwagga coal mine owned by Glencore is seen near Hendrina in Mpumalanga province Thomson Reuters JOHANNESBURG Reuters Glencore has provisionally agreed to sell its
Coal Energy Products Glencore Australia
Coal is a plentiful source of energy and has many important uses worldwide Coal is used in many day to day goods and services that we might sometimes take for granted in our modern society – such as electricity generation thermal steel production coking and cement manufacturing
glencore optimum colliery silicone coating machine
Glencore to sell Optimum Coal Mine in South Africa 2015 12 11 Glencore has provisionally agreed to sell its troubled South African coal mine for 2 15 billion rand 136 million narrowly avoiding closing the operation and saving hundreds of jobs the unit s
Court 39 s Green Light For Outa In Gupta Linked Optimum Case 39 A
Apr 21 2018 An entrance to the Optimum Kwagga coal mine owned by Glencore is seen near Hendrina in Mpumalanga province September 8 2015
Glencore Mine Sale To Gupta Zuma Business Gets Getty Images
A sign stands on a wall near the entrance to the Optimum Colliery owned by Coal processing buildings stand at the Optimum Colliery owned by Glencore Plc
How Zuma 39 s corruption nearly sank South Africa Business The
Mar 4 2018 A mine seized from Glencore exposed the state 39 s crooked nature The town 39 s Optimum coal mine was sold by London listed mining giant
Friction erupts between Eskom and Glencore eNCA
Nov 6 2016 It is unfortunate that Glencore has suggested that Eskom has lied about Optimum Coal Mine wanting to increase the coal prices to R570 per
Optimum Coal Mine in the spotlight as Eksom inquiry continues
Nov 1 2017 The inquiry heard from business rescue practitioner Piers Marsden testifying about the sale of Glencore 39 s Optimum
South Africa lets Glencore resume operations at Optimum
Aug 07 2015 · Glencore has placed its Optimum coal mine in the local equivalent of bankruptcy proceedings South Africa s mines minister has decided to conditionally withdrew a licence suspension for Glencore
86 LM Oct11 In the matter between Piruto BV and Lexshell 849
Oct 11 2011 Glencore held the following shareholdings 34 4 in Xstrata 43 66 in Rock JSE listed Optimum Coal Mines Optimum Mines and
Anything but optimal Gupta coal company up for sale BizNews
Mar 28 2018 Glencore is not the only company now interested in buying Optimum A sign stands at the entrance to the Optimum Colliery in Middelburg
Optimum Coal commences business rescue proceedings Glencore
Glencore announces that the directors of its subsidiaries Optimum Coal Holdings and Optimum Coal Mine Optimum have resolved to commence business rescue proceedings and place both companies under supervision given continued and unsustainable financial hardship
Kwagga Open Pit Mining Atlas
Kwagga Open Pit is a Coal Mine Mpumalanga in South Africa owned by Glencore Xstrata General Kwagga coal mine is part of the Optimum Collieries which
Seriti Resources interested in Optimum Coal as it looks to
Jun 06 2018 · Optimum has not made clear if its assets are up for sale but Seriti s CEO and shareholder Mike Teke used to own a stake in the company until Glencore bid for it in 2011
How the Guptas took over Optimum coal mine with Eskom IOL
Nov 1 2017 Piers Marsden explains how and why Optimum coal mine was Marsden that they were R600 million short on the R2 15bn deal with Glencore
Eskom says it will not pay more for coal from Optimum mine
Apr 30 2018 Eskom confirmed that it may allow Optimum Coal Mine to halve the had forced Glencore to sell Optimum colliery to Gupta owned Tegeta by
Glencore to sell Optimum Coal Mine in South Africa for
Dec 11 2015 · Glencore has provisionally agreed to sell its troubled South African coal mine for 2 15 billion rand 136 million narrowly avoiding closing the operation and saving hundreds of jobs the unit s
Eskom accused of pushing for Glencore mine closure Financial
May 16 2017 Ngoako Ramatlhodi said utility bosses wanted him to use the threat of a multibillion rand penalty levied on the Optimum colliery for low quality
Optimum Coal Mine Mining News
Glencore has said the 10 million tonnes a year Optimum coal mine is under financial strain as it was selling coal to Eskom for less than the cost of production Business rescue similar to chapter 11 in the United States allows a financially
How bigwig officials bullied Glencore to sell Optimum mine
Optimum coal mine File image Former minerals minister Mosebenzi Zwane and Gupta associate Salim Essa met the Glencore CEO in Zurich to persuade him to sell the mine
Eskom accused of pushing for Glencore Financial Times
May 16 2017 · Glencore placed the Optimum mine into business rescue an alternative to bankruptcy in August 2015 after Mr Molefe refused to renegotiate a long term supply contract on which the colliery
Report Gupta owned Optimum Coal blames Eskom Transnet for
Feb 22 2018 Optimum Coal Mine management has laid the blame for the company 39 s Under Glencore the previous owner of the mine the power utility
How State Capture business was conducted – former Optimum
CAPE TOWN Cynical government intervention in dealings between Eskom and its financially vulnerable coal supplier Optimum wore it down making it ripe for the plucking by the Gupta s Oakbay company dramatic testimony by Glencore director and former CEO of Optimum Coal Holdings Clinton Ephron reveals The fierce tactical push back by Optimum against overwhelming odds was to prove
Guptas have business link to Mines Minister Zwane Fin24
Feb 19 2016 · Johannesburg Three months after he was appointed minister of mineral resources Mosebenzi Zwane helped the Gupta family acquire Glencore s JSE GLN Optimum colliery Now it has emerged that his political adviser has a business connection with the
Tegeta Exploration and Resources Pty Ltd v Optimum Coal Mine
Apr 12 2016 Optimum Coal Mine Pty in business rescue agreement where it agreed to sell export coal produced by OCM to Glencore International AG
Business in a time of State Capture The Glencore story
For seven months global commodities firm Glencore found itself cornered stonewalled and punished as it tried to cling to Optimum Coal Mine amid interventions by government officials and Eskom
Glencore considering buying Gupta linked Optimum coal mine
Glencore Plc is considering a bid for the Optimum coal operations in SA which it sold in 2015 to a company part owned by the Gupta family according to two people familiar with the matter
South African authorities accused over Glencore coal mine deal
Feb 14 2016 Ministry denies putting pressure on company over sale of coal mine to a it pressed Glencore to agree to the sale of Optimum Coal to Tegeta
Glencore s Optimum coal now in hands of S African s
Apr 14 2016 · Oakbay Investments the firm controlled by the Gupta family and South African President Jacob Zuma s son completed Thursday the 145 million acquisition of Glencore s LON GLEN Optimum Coal
Glencore acquiring BHP Billiton s Optimum coal rights approved
The Competition Tribunal has approved Glencore s acquisition of BHP Billiton Energy Coal South Africa s supply of export coal from Optimum Colliery with which Glencore has merged As Glencore
Eskom and the sale of Optimum Coal Mine The South African
Nov 29 2016 Glencore had put the Optimum Coal Mine OCM – one of the three entities in OCH – into business rescue Eskom as OCM 39 s only customer
Glencore to close Optimum Coal Mine in South Africa
Jan 29 2015 · 29 January 2015 Mining giant Glencore has announced that they are to close the Optimum Coal Mine in Mpumalanga Around 1 500 employees
Glencore
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Optimum Coal commences business rescue proceedings Glencore
Aug 4 2015 Glencore announces that the directors of its subsidiaries Optimum Coal Holdings and Optimum Coal Mine Optimum have resolved to
Glencore Bets on South Africa as Ramaphosa Promises
Jun 25 2018 · considering a bid for Optimum people familiar with the matter told Bloomberg in March The business is coveted in part because it would allow Glencore to
Seriti Resources interested in Optimum Coal as it looks to export
Seriti Resources interested in Optimum Coal as it looks to export CEO wants to list Seriti GLENCORE R56 52 3 22 11 9 2018 7 00 29 AM Seriti Resources
Business rescue may put Optimum back under Glencore ownership
Mar 7 2018 Glencore could potentially return as owner of the Optimum mine under strict Sanjeev Gupta 39 s GFG Alliance to buy Glencore coal mine
