Former Eskom chief executive Brian Molefe “stonewalled” Optimum coal mine in its efforts to negotiate an agreement that would secure its coal supply to the ailing utility’s Hendrina power station, the Zondo commission of inquiry into state capture heard on Wednesday.
This despite reports that Eskom’s procurement committee had resolved to settle an agreement with Optimum which would ensure the security of supply of coal for the life of the Hendrina power station. Amid significant financial strain, Optimum approached Eskom to negotiate “more realistic” specifications for its coal supply agreement. Ephron told the commission that Optimum coal mine lost R829-million in 2013 alone under the Eskom contract.
Optimum had been through a long period of negotiating with Eskom, Ephron said. “And we had got to the point where we felt that we had got to some sort of a conclusion in the Optimum saga.” Around this time, Optimum had been approached by KPMG on behalf of Gupta-linked Oakbay Investments which was offering to purchase the mine for R2-billion.
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