Optimum Coal Mine has signed an Acknowledgement of Debt with the Special Investigating Unit and agreed to pay back approximately R6.9 million in unpaid motor licensing fees and penalties.
Optimum has been in business rescue since 2018 and is now also subject to a preservation order which was obtained by the National Prosecuting Authority last year. The NPA has since moved for an order to have the mine's assets forfeited to the state. The probe focused on any conduct by officials or agents of the department or any other person which relate to the registration of motor vehicle ownership or licensing details and non-payments of motor vehicle licensing fees, arrears, and penalties.A deep dive into the big business story of the week, as well as expert analysis of markets and trends.
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