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Coal & Diesel News

Brian Molefe’s young wife boosted his pension payout

By: News24Wire      20th October 2017 Former Eskom CEO Brian Molefe's marriage to Arethur Moagi in December 2016 boosted his pension payout, according to Sibusiso Luthuli, CEO of the Eskom Pension and Provident Fund (EPPF). Luthuli was briefing Parliament’s public enterprises committee as part of its state capture inquiry. 

Parly committee rejects BLF’s demand that it stop Eskom inquiry

By: African News Agency      20th October 2017 Parliament’s portfolio committee on Public Enterprises on Friday rebuffed a demand from Black First Land First (BLF) to stop its inquiry into Eskom, which the group termed a witchhunt against the Gupta family. Committee chairperson Zukiswa Rantho asked MPs how she should respond to the missive,... 

Parly committee rejects BLF’s demand that it stop Eskom inquiry

Eskom approval is last remaining hurdle for R2.3bn Seriti Coal deal

By: Terence Creamer     20th October 2017 The black-empowerment consortium selected as the preferred bidder for Anglo American’s Eskom-tied coal operations is optimistic that the State-owned utility will approve the ceding of three coal supply agreements (CSAs) from Anglo to Seriti Coal by year-end. The R2.3-billion transaction was... 

Eskom approval is last remaining hurdle for R2.3bn Seriti Coal deal
Photo by Duane Daws
Thebe Energy and Resources CEO Sizwe Mncwango

FBI opens investigation into South Africa's Guptas – FT

By: Reuters     19th October 2017 The FBI has opened an investigation into US links to South Africa's Guptas, escalating a scandal over the family's alleged use of a friendship with President Jacob Zuma to control state businesses, the Financial Times said on Thursday. Separately, Britain's banking regulator, the Financial... 

FBI opens investigation into South Africa's Guptas – FT
Photo by Duane Daws
Atul Gupta

Outa accuses Eskom consultants of ‘gambling’ with public money

By: Kim Cloete     19th October 2017 The Organisation Undoing Tax Abuse (Outa) has alleged that Eskom consultants Trillian Capital Partners have been “dabbling” in derivatives and losing billions of rands in the process. “Trillian has been dabbling in derivatives with our public money, racking up losses of R27-billion,” Outa... 

Outa accuses Eskom consultants of ‘gambling’ with public money
Photo by Duane Daws
Ted Blom

‘Absolutely no need' for nuclear, Dames says in State-capture testimony

By: Kim Cloete     18th October 2017 Former Eskom CEO Brian Dames has revealed that he faced a breakdown in communication between the board and management, as well as death threats during his time at the state utility.  He has also told Parliament’s Portfolio Committee on Public Enterprises that there is "absolutely no need" for... 

‘Absolutely no need' for nuclear, Dames says in State-capture testimony
Former Eskom CEO Brian Dames

‘You are too late’ – Dames on State capture inquiry

By: News24Wire      18th October 2017 Former Eskom chief executive Brian Dames told Parliament’s State capture inquiry on Wednesday that while the process is a great move, it was too late. “You are too late,” he said. “You should have done this a long time ago.” 

‘You are too late’ – Dames on State capture inquiry
Photo by Duane Daws
Former Eskom CEO Brian Dames

Zwane to Parliament – Am I being investigated?

By: News24Wire      18th October 2017 "Am I being investigated? I need to know so that we can start dealing with facts and not allegations that are in the media." Those were the introductory remarks from Mineral Resources Minister Mosebenzi Zwane who is currently appearing before Parliament's portfolio committee on mineral resources... 

Evidence of blatant corruption at Eskom unpacked at Parliament’s inquiry into State capture

By: Kim Cloete     17th October 2017 Parliament’s Portfolio Committee on Public Enterprises has kicked off its inquiry into alleged State capture with a report revealing “overwhelming evidence of grand corruption”, governance failure and a stream of irregularities at Eskom, South Africa’s largest State-owned entity. Research... 

Evidence of blatant corruption at Eskom unpacked at Parliament’s inquiry into State capture
Research professor Anton Eberhard

Key witnesses in State capture inquiry will need to face the music, warns parliamentary committee chair

By: Kim Cloete     17th October 2017 Parliament’s Portfolio Committee on Public Enterprises has started its keenly awaited inquiry into allegations of State capture, with a warning that key witnesses will not be allowed to shy away from appearing before Parliament. “We have a right to subpoena a witness if we think that witness has... 

Key witnesses in State capture inquiry will need to face the music, warns parliamentary committee chair

Citing data scandal, local govt delays Kobe Steel coal plant assessment

By: Reuters     17th October 2017 Japan's Kobe Steel, embroiled in a data falsification scandal in its metals business, was dealt a fresh blow as a local government suspended an environmental assessment of its plans to build a large coal-fired plant on the site of an old steelworks. The government of Hyogo in western Japan, where... 

McKinsey 'embarrassed' by failings in South Africa scandal

By: Reuters     17th October 2017 McKinsey said on Tuesday it was embarrassed by errors it made while working with South African utility Eskom on a R1.6-billion contract that is being investigated by Parliament and police over allegations of fraud. Privately-held McKinsey, the world's largest management consultancy, said it had... 

McKinsey 'embarrassed' by failings in South Africa scandal

Eskom suspends power cuts in MP municipality after receiving payment

By: African News Agency      16th October 2017 South African power utility Eskom on Monday suspended its planned supply interruption to the Govan Mbeki local municipality in Mpumalanga after it reached a payment agreement with the municipality. This comes after Eskom started cutting the power supply to Govan Mbeki Local municipality from... 

DA to report minister Brown to public protector and ethics committee over Eskom contract

By: African News Agency      16th October 2017 The Democratic Alliance (DA) will ask Public Protector Busisiwe Mkhwebane to investigate Public Enterprises Minister Lynne Brown for any role she played in awarding lucrative oil contracts worth R1.2-million from Eskom “to her lover and close business associate” despite their lack of expertise in... 

Eskom facing threats on multiple fronts, Maritz acknowledges

By: Terence Creamer     12th October 2017 Eskom’s newest interim group CEO Sean Maritz has acknowledged that the utility is facing threats on multiple fronts in light of rapid changes to the global electricity landscape and the constrained outlook for domestic electricity sales. However, in a statement calling for “space and time to... 

Eskom facing threats on multiple fronts, Maritz acknowledges
Photo by Duane Daws
Eskom interim group CEO Sean Maritz

MPs dismayed as chief procurement officer silent on Eskom contracts

By: African News Agency      11th October 2017 Acting chief procurement officer Willie Mathebula apologised to Parliament’s standing committee on finance on Wednesday for giving a “sub-standard presentation” after members expressed dismay that he claimed no direct knowledge of the withdrawal of a damning report on Eskom’s coal contracts with... 

MPs dismayed as chief procurement officer silent on Eskom contracts

SA black consumer body urges regulator to reject Eskom’s tariff hike application

By: African News Agency      11th October 2017 The National Black Consumer Council (NBCC) on Wednesday said that it opposed Eskom’s proposed application for a 20% electricity tariff increase next year. TheNBCC urged the National Energy Regulator of South Africa (Nersa) to reject the troubled power utility’s application and rather grant it “a... 

McKinsey says will pay back fees if South African court finds Eskom deal illegal 

By: Reuters     10th October 2017 McKinsey will repay fees it earned for six months' work last year at South African State utility Eskom if a high court finds the deal was unlawful, the global consultancy said on Tuesday. Eskom had given McKinsey and its local partner Trillian until Tuesday to repay R1.6-billion ($117-million) in... 

McKinsey says will pay back fees if South African court finds Eskom deal illegal

Black Business Council says Eskom CEO musical chairs doesn’t inspire confidence 

By: African News Agency      9th October 2017 The Black Business Council (BBC) said on Monday that it was concerned by the sudden change of leadership at State-owned power utility Eskom, saying that government must give the enterprise some space and not meddle in its affairs. This comes after Eskom last week appointed its chief information... 

Tanzanian President splits energy and mining in ministry shake-up

By: Reuters     9th October 2017 Tanzanian President John Magufuli split the energy and minerals ministry in two and appointed heads for the new ministries on Saturday, five months after sacking the previous minister. Two presidential committees had recommended the move to tighten supervision of natural resources in Tanzania,... 

Eskom unveils Maritz as latest interim CEO, Dladla returns to Rotek 

By: Terence Creamer     6th October 2017 The board at embattled State-owned electricity utility Eskom announced on Friday that Sean Maritz had been appointed interim CEO, replacing Johnny Dladla, who himself only took up the position in June, when the previous acting CEO, Matshela Koko, was placed on leave. In a statement headlined,... 

Eskom unveils Maritz as latest interim CEO, Dladla returns to Rotek
Photo by Duane Daws
Sean Maritz

Eskom asks McKinsey, Trillian to return R1.6bn

By: Reuters     6th October 2017 South Africa's Eskom has asked consultancy firms McKinsey and Trillian to pay it back R1.6-billion ($117-million), saying that an internal inquiry had found that the State power utility's decisions to make the payments were unlawful. "The interim findings from Eskom investigations into the... 

Eskom asks McKinsey, Trillian to return R1.6bn

Opinion: South Africa’s coal mining sector could shrink by 46% 

     6th October 2017 In this opinion article, independent economic risk consultant Rob Jeffrey argues that the mining industry and coal industry need to fight for their very future otherwise all is lost. Few people realise that future economic, political and social prosperity are at currently stake. Decisions made in... 

Opinion: South Africa’s coal mining sector could shrink by 46%
Rob Jeffrey

Shumba’s coal trading division generates first revenues

     5th October 2017 Coal mining and energy development company Shumba Energy’s coal trading division, Shumba Coal Trading (SCT), has generated the first revenues for the company. The Botswana Stock Exchange-listed company on Thursday said it had sold more than 1 000 t of coal to customers in the regional market, to... 

S Africa's auditor-general says Eskom's wasteful spending balloons

By: Reuters     4th October 2017 Wasteful spending at South Africa's state power utility Eskom soared to 547 million rand ($40.24 million) in 2016/17 from 93 million rand in 2015/16, the Auditor General's office told parliament on Tuesday. Eskom is at the heart of allegations of illegal contracts and undue influence in awarding... 

Exxaro, Transnet ink ten-year coal transportation agreement

By: Anine Kilian     3rd October 2017 South African diversified resources company Exxaro Resources has signed a ten-year coal export transportation agreement with State-owned rail utility Transnet, which will increase coal volumes from the Limpopo-based Waterberg region to the Richards Bay Coal Terminal (RBCT), in KwaZulu-Natal,... 

Exxaro, Transnet ink ten-year coal transportation agreement
Exxaro CEO Mxolisi Mgojo and Transnet CEO Siyabonga Gama

Electricity industry approaching ‘breaking point’, City Power warns 

By: Terence Creamer     3rd October 2017 Johannesburg’s electricity utility City Power is warning that the current structure of South Africa’s electricity sector is unsustainable and that, in the absence of a coherent national policy, the sector is approaching “breaking point”. Demand- and supply-side manager Paul Vermeulen says that... 

Electricity industry approaching ‘breaking point’, City Power warns

Guptas oppose application to freeze R1.75bn coal mine rehab funds – Outa

By: Creamer Media Reporter      2nd October 2017 The Organisation Undoing Tax Abuse (Outa) says the business group owned by the Gupta family is opposing its application to freeze the R1.75-billion mine rehabilitation funds for two of its coal mines. Outa last week succeeded in obtaining an interim order from the Pretoria High Court which... 

Zambia to start building two new power plants in 2018 – finance minister

By: Reuters     29th September 2017 Zambia plans to start building two power generation plants that will add 550 MW of electricity to its national grid once completed, Finance Minister Felix Mutati said on Friday. Mutati said in a budget speech one investor planned to build a 300 MW thermal power station in southern Zambia and... 

Mytilineos wins $400m power plant contract in Libya

By: Reuters     28th September 2017 Greek industrial group Mytilineos has signed a $400-million contract to build a power plant in Libya, its first project in the country, the company said on Thursday. Under the deal with the General Electricity Company of Libya, Mytilineos will build a new dual fuel power plant in Tobruk, it said... 

BLSA suspends 'corrupt' Eskom and Transnet

By: News24Wire      28th September 2017 Business Leadership South Africa on Thursday booted out State-owned entities Eskom and Transnet for their involvement in corruption and State capture with immediate effect. The announcement comes as BLSA launched its #BusinessBelieves campaign in Cape Town, where it signed a “contract” with South... 

BLSA suspends 'corrupt' Eskom and Transnet
Photo by Duane Daws
BLSA CEO Bonang Mohale

Auditing firm cuts ties with Gupta’s Oakbay

By: Sane Dhlamini     27th September 2017 The board of auditing firm Sizwe Ntsaluba Gobodo (SNG) has resigned as auditors of Gupta-owned Oakbay Resources and Energy Limited and its related entities. The auditing firm’s statement stipulates that this decision was made after a thorough assessment of its relationship with the company which... 

Auditing firm cuts ties with Gupta’s Oakbay

Government pension fund won't be used to bail out State firms – Gigaba

By: Reuters     26th September 2017 South Africa is not planning to raid the government pension fund to bail out struggling State firms, Finance Minister Malusi Gigaba said on Tuesday. Gigaba also denied reports that he told a Cosatu union meeting that indebted State-owned entities needed R100-billion ($7.50-billion) to survive. 

Government pension fund won't be used to bail out State firms – Gigaba
Photo by Duane Daws
Finance Minister Malusi Gigaba

Court freezes mine rehab billions from Gupta-owned mines

By: News24Wire      26th September 2017 Anti-corruption advocacy group the Organisation Undoing Tax Abuse (Outa) on Tuesday won an urgent interim interdict to freeze some R1.75-billion in mine rehabilitation funds from two Gupta-owned coal mines. The group’s urgent application was heard in the North Gauteng High Court in Pretoria. In a... 

 Court freezes mine rehab billions from Gupta-owned mines

Eskom not generating enough cash to cover interest on debt – report

By: Terence Creamer     21st September 2017 A new report analysing Eskom’s financial position warns that the State-owned utility is simply not generating enough cash through operations and electricity sales to cover the interest on its borrowings, which will peak at around R500-billion in the coming three years. However, it also argues... 

Eskom not generating enough cash to cover interest on debt – report

Tlou submits plans for Botswana power plant

By: Esmarie Swanepoel     21st September 2017 ASX- and Aim-listed Tlou Energy has submitted a proposal to the Botswana Ministry of Mineral Resources, Green Technology and Energy Security to develop up to 100 MW of coalbed methane- (CBM-) fuelled pilot power plants in the African country. The government of Botswana earlier this year requested... 

Brown receives outstanding information on Eskom’s relationship with Gupta-linked Trillian

By: African News Agency      20th September 2017 Public Enterprises Minister Lynne Brown has received answers from Eskom to outstanding questions about its relationship with Trillian, a Gupta-linked company, her office said on Wednesday. “Minister Brown last night received Eskom’s responses to her queries. She noted  progress and Eskom will... 

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