StateCaptureInquiry hears how Eskom treated Glencore differently to Tegeta
“Do you also agree that because of that difference of treatment, the one set of owners, which is Glencore, was forced to take the radical decision of declaring a hardship which led to arbitration?
“Do you also agree that as a result of that difference in treatment, Glencore had to put Optimum Coal Mine into a business rescue?” Maleka questioned Opperman who agreed. “Do you also agree that in regards to the new owner, Eskom extended favourable treatment totally different to that of Glencore?” Maleka enquired, asking Opperman to comment on whether he agrees that the power utility accommodated the financial and operating difficulties that the mine experienced when Tegeta took over its ownership.
The commission recently heard testimony on how a mineral resources minister, Eskom executives and a senior government official were among several powerful individuals who exerted undue pressure on Glencore to sell its OPH local assets to Tegeta Exploration and Resources in 2015.
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