NPA gearing up for fight over contract miners at former Gupta-owned mine Optimum | Business

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The National Prosecuting Authority's Asset Forfeiture Unit is gearing up for a possible 'full-blown fight' with Optimum Coal Mine's business rescue practitioners as contractor activity continues to erode the asset value of the mine. | News24_Business

The asset forfeiture unit is concerned about continued contract mining at Optimum Coal Mine.The Richards Bay Coal Terminal has also revoked Optimum's use of its export entitlement.The National Prosecuting Authority's Asset Forfeiture Unit is gearing up for a possible"full-blown fight" with Optimum Coal Mine's business rescue practitioners as contractor activity continues to erode the asset value of the mine.

She said the business rescue practitioners still need to submit the contracts of the mini-pit operators. An attempt to sell the mine out of business rescue to Liberty Energy – owned by former Gupta associate Daniel McGowan – was thwarted earlier this year when the NPA's National Director of Public Prosecutions obtained a preservation offer over the Optimum assets based on its argument that the mine was bought with the proceeds of crime. The court also appointed a curator to oversee the preservation of the assets. The NPA has since applied for a forfeiture order over the mine.

 

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