Optimum Coal Mine in the spotlight as Eksom inquiry continues

The Portfolio Committee on Public Enterprises has heard stories of widespread corruption at Eskom.

Whistleblower Mosilo Mothepu told the Committee what she knows about how Trillian was paid nearly R600 million for advisory services for the parastatal, without a contract.

Mothepu served as CEO of Trillian Financial Advisory, a firm born out of the purchase of Regiments Capital.

READ: Whistleblower reveals damning evidence in state capture probe

The inquiry has now heard from business rescue practitioner Piers Marsden, testifying about the sale of Glencore's Optimum coal mine to Tegeta.

Eyewitness News reporter Lindsay Dentlinger is attending proceedings.

He detailed that the financial troubles that Optimum Coal Mine was facing it only essentially had one contract and that was with Eskom and it was in further trouble facing a R 2 billion fine for sub-standard coal. Part of the reason it was placed into business rescue.

Lindsay Dentlinger, EWN reporter

Marsden also telling he committee that he had received an offer from a well known mining company Pembani to buy the mine and it was only several months later that he would learn some of the reasons for Pembani pulling out of that offer.

Lindsay Dentlinger, EWN reporter

Dentlinger explains how Duduzane Zuma is linked to transactions to buy the Optimum coal mine.

Its a complicated structure but he is confining that Tegeta is essentially owned by the Gupat family's investment arm Oakbay, in terms of the shareholding structure in turn owned by a company called Mabangela of which Presidnet Jacob Zuma's son is a key shareholder.

Lindsay Dentlinger, EWN reporter

Click on the link below to listen to the full audio....


This article first appeared on CapeTalk : Optimum Coal Mine in the spotlight as Eksom inquiry continues


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