This emerged from testimony by former Glencore CEO Clinton Ephron, who is on the stand at the Zondo commission of inquiry into state capture.
JOHANNESBURG - The state capture commission has heard that when the new Eskom leadership arrived, with Brian Molefe as CEO, the power utility changed its contractual coal supply agreement with Optimum coal mine, all in the name of strong-arming Glencore to sell the mining company to Gupta-owned Tegeta.
Investigations have previously found that the power utility prejudiced Glencore by fining its mining company R2.1 billion for supplying poor-quality coal. By refusing to waive the historical penalties levied against Optimum coal mine by Eskom, the company went into business rescue, and was purchased by Tegeta.Ephron says his meeting with Molefe was devastating.
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Glencore to lay bare details of Optimum deal with Guptas, EskomIn 2016, the Gupta family's Tegeta Resources bought Optimum Coal Mine from Glencore for R2.15 billion after Eskom extended a questionable R586 million prepayment for coal.
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Zondo Commission hears details of Glencore, Eskom relationshipClinton Ephron's testimony comes a day after the inquiry heard evidence on Eskom’s coal supply agreements with Gupta-owned company Tegeta.
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