StateCaptureInquiry 'Essentially, they wanted a refund of all the money they paid to Optimum for the supply of coal in that period.'
About two weeks after the Gupta’s initial offer, Ephron said, Glencore received a letter"out of the blue" from Eskom’s lawyers demanding the payment of backdated penalties of about R2bn - the same amount offered for the purchase of the mine.
"Essentially, they wanted a refund of all the money they paid to Optimum for the supply of coal in that period."Eskom then added to the pressure on Optimum by withholding payment for coal, forcing the company into business rescue. The third offer was for R1bn - half the original amount. This time, the Guptas wanted all the assets under Optimum Coal Holdings, which included the lucrative Richards Bay Coal Terminal.
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