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Guptas' flagship Oakbay faces liquidation application over R2m unpaid rent

By: News24Wire      11th September 2018 Business rescue practitioners appointed to save a Gupta business have filed an application for the liquidation of the Gupta's flagship company, Oakbay Investments, as a result of its failure to pay rent to another Gupta-owned company, Tegeta. In court papers filed in the Johannesburg High Court... 

Court orders business rescue practitioners be allowed back at Gupta-linked firms

By: News24Wire      7th May 2018 An appeal to have business rescue practitioners barred from the office of several Gupta-linked companies has been overturned in the South Gauteng High Court in Johannesburg. Business rescue practitioners Louis Klopper and Robert Knoop were told they were "no longer welcome" by the very... 

Eskom dealing with coal shortages at seven power stations  

By: Marleny Arnoldi     25th April 2018 State-owned power utility Eskom on Wednesday said it had put measures in place to deal with the coal shortages at seven of its power stations, in Mpumalanga, and has assured the public that this would not result in load-shedding.  

Gordhan calls for urgency on State capture probe as Guptas dump assets

By: News24Wire      23rd August 2017 Pravin Gordhan, former finance minister and current African National Congress MP, asked Parliament on Wednesday to look into the disposal of assets by the Gupta family as part of its inquest into State capture. Although Gordhan did not mention any names, it can be assumed that he was referring to... 

Eskom refuses to provide information on Tegeta claim settlement – AfriBusiness 

By: Anine Kilian     23rd June 2017 Business rights watchdog AfriBusiness will consult with its legal team to determine the way forward after State-owned Eskom reportedly refused to provide it with information on the R2-billion fine imposed on Tegeta Resources’ Optimum coal mine. Following a period of arbitration, Eskom and Tegeta... 

Scopa welcomes SIU investigation into Eskom coal deals

By: Ilan Solomons     30th May 2017 The Standing Committee on Public Accounts (Scopa) has welcomed the decision by Public Enterprises Minister Lynne Brown to refer Eskom’s procurement contracts, including those signed with the Gupta family-linked Tegeta Resources, to the Special Investigating Unit (SIU) for investigation. The SIU... 

Eskom seeking Tegeta ‘consent’ to disclose value of Optimum settlement

By: Terence Creamer     13th April 2017 Department of Public Enterprises director-general Mogokare Seleke revealed on Thursday that Eskom’s legal representatives had approached Tegeta Resources, owner of the Optimum coal mine, to obtain “consent” in making details of a recent arbitration settlement, relating to a R2.2-billion penalty... 

Guptas, Eskom still not budging on R2bn coal fine payment 

By: News24Wire      1st December 2016 The Guptas, who part-own Optimum Coal Mine through Tegeta Resources and Energy with President Jacob Zuma’s son Duduzane Zuma, have yet to pay the R2.176-billion fine imposed on it by Eskom. That is according to a written Parliamentary response by Public Enterprises Minister Lynne Brown on Wednesday. 

Glencore lashes out at Eskom over coal claims

By: News24Wire      7th November 2016 Glencore has rejected allegations by Eskom CEO Brian Molefe that it sold the parastatal coal at exorbitant prices. Molefe accused Glencore of previously trying to sell coal to Eskom at a rate of R570 per tonne, when he said the price should have been below R200. 

Exxaro concludes Inyanda sale to Burgh, Lurco

By: Megan van Wyngaardt     4th October 2016 The Competition Commission has approved the acquisition of the Inyanda colliery by a consortium comprising Burgh Group and Lurco Group from Exxaro. Burgh and Lurco will continue to use the Inyanda plant, situated in the eMalahleni district in Mpumalanga, for coal beneficiation and foresees the... 

I am captured by the Constitution, not by the Guptas, says Molefe 

By: Kim Cloete     31st August 2016 Eskom CEO Brian Molefe has strongly rejected allegations that he undermined and blocked a review by National Treasury into the utility's coal contracts with Gupta-linked company Tegeta Exploration and Resources. “I am captured by the Constitution, not by the Guptas,” said Molefe, fielding... 

Eskom continues to cooperate with National Treasury on coal contract probes

By: African News Agency      29th August 2016 Eskom on Sunday dismissed reports that findings have been made against the parastatal, insisting it continues to cooperate with the National Treasury on its investigations of Eskom coal contracts. “Contrary to the allegations made by the Sunday Times today [Sunday], the National Treasury has not... 

Tegeta eyeing other assets following Optimum takeover

By: Ilan Solomons     4th March 2016 Junior coal mining company Tegeta Resources and Exploration is an ambitious business and on the lookout for new opportunities to grow the business, Oakbay Investments CE Nazeem Howa tells Mining Weekly. Tegeta is 64% owned by local investment company Mabengela Investments and Oakbay. 

Glencore reports lower FY coal, copper output

By: Creamer Media Reporter      11th February 2016 Output across most of diversified major Glencore’s production categories fell in 2015, with coal output down 10% year-on-year, copper production 3% year-on-year and nickel 5% year-on-year. Coal production decreased to 131.5-million tonnes, owing to the curtailment of production in response to... 

Jobs a critical focus for new mines Minister

By: Natasha Odendaal     5th February 2016 With thousands of mining jobs on the line in South Africa, potential job losses in a pressurised mining sector had become a critical topic at Mineral Resources Minister Mosebenzi Zwane’s first real engagement with the public on Friday. Zwane, appointed Minister late last year, had the difficult... 

Factual inaccuracies in media report, say Optimum Coal business rescuers

By: Megan van Wyngaardt     2nd February 2016 Optimum mine and Optimum Coal Holdings’ joint business rescue practitioners (BRPs) Piers Marsden and Peter van den Steen said on Tuesday that there had been “a number of factual inaccuracies” in a recent media report on the ongoing Endulwini Mining offer. The BRPs said that the report... 

DA to question Minister on alleged involvement in the sale of mine

By: Megan van Wyngaardt     29th January 2016 Democratic Alliance shadow Minister James Lorimer says he will question Mineral Resources Minister Mosebenzi Zwane in Parliament as to whether the Minister has made interventions on behalf of mining industry participants. This comes as the DA alleged that Zwane had confirmed that he was involved... 

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