“Every month that Tegeta has failed to supply coal to Majuba from Brakfontein is equivalent to 2.4 days, meaning that we had to go to our strategic pile and burn off that two days because it is not coming from Tegeta, and we could not replace that coal quick enough,” Mashigo told the commission.
“But the total amount, the equivalent amount of stock that Majuba lost by virtue of Tegeta not supplying coal is equivalent to 24 days,” Mashigo added.Tegeta’s failure to supply coal at Majuba forced Eskom to continuously source coal in the markets. He added that when the mine was placed under business rescue on 17 February last year, it was only at that time that Eskom had to source coal supply to replace the supply from Tegeta.
“In and around October, that is when some of the new contracts started kicking in and, we could supply more than what we were consuming and we started stockpiling more,” Mashigo said.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Zondo commission: Eskom's Gupta contracts under the spotlight | Business | M>he StateCaptureInquiry will today hear details of how Eskom entered into a dodgy multi-billion rand coal contract with the infamous Gupta-owned Tegeta Brakfontein mine. but the contract still exists as does the contract with Ramaphosa's Shanduka. The contract with Shanduka is no different except it is Cyril doing the stealing I am all ears. I hope this time it's not the rubbish as evidence we have been subjected to. Whilst cost plus models drag on... Lifetime contracts.
Source: mailandguardian - 🏆 2. / 92 Read more »