Optimum Coal Mine in the spotlight as Eksom inquiry continues

The Portfolio Committee on Public Enterprises has heard stories of widespread corruption at Eskom.

Whistleblower Mosilo Mothepu told the Committee what she knows about how Trillian was paid nearly R600 million for advisory services for the parastatal, without a contract.

Mothepu served as CEO of Trillian Financial Advisory, a firm born out of the purchase of Regiments Capital.

READ: Whistleblower reveals damning evidence in state capture probe

The inquiry has now heard from business rescue practitioner Piers Marsden, testifying about the sale of Glencore's Optimum coal mine to Tegeta.

Eyewitness News reporter Lindsay Dentlinger is attending proceedings.

He detailed that the financial troubles that Optimum Coal Mine was facing it only essentially had one contract and that was with Eskom and it was in further trouble facing a R 2 billion fine for sub-standard coal. Part of the reason it was placed into business rescue.

Lindsay Dentlinger, EWN reporter

Marsden also telling he committee that he had received an offer from a well known mining company Pembani to buy the mine and it was only several months later that he would learn some of the reasons for Pembani pulling out of that offer.

Lindsay Dentlinger, EWN reporter

Dentlinger explains how Duduzane Zuma is linked to transactions to buy the Optimum coal mine.

Its a complicated structure but he is confining that Tegeta is essentially owned by the Gupat family's investment arm Oakbay, in terms of the shareholding structure in turn owned by a company called Mabangela of which Presidnet Jacob Zuma's son is a key shareholder.

Lindsay Dentlinger, EWN reporter

Click on the link below to listen to the full audio....


CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Portfolio Committee chair shocked by latest testimony in Eskom inquiry

Portfolio Committee chair shocked by latest testimony in Eskom inquiry

A former Trillian employee revealed that Trillian CEO Eric Wood knew Nhlanhla Nene would be axed as Finance Minister.

Whistleblower reveals damning evidence in state capture probe

Whistleblower reveals damning evidence in state capture probe

Parliament's Eskom inquiry resumed on Tuesday with whistleblower, Mosilo Mothepu giving testimony on Trillian and Eskom.

'The New Age deal is weirder than the Tegeta one'

'The New Age deal is weirder than the Tegeta one'

The Money Show’s Bruce Whitfield interviews Savannah Mara Senior Partner Rod MacLeod.

Charles King SA's owner seems to have shady past with the Guptas

Charles King SA's owner seems to have shady past with the Guptas

Amabhungane, through the #GuptaLeaks, has revealed the man buying Tegeta as Amin Al Zarooni who worked with the Guptas before.

Bloomberg makes fishy discovery when visiting Charles King (new owner of Tegeta)

Bloomberg makes fishy discovery when visiting Charles King (new owner of Tegeta)

Why is its registered address that of a violin shop? Bruce Whitfield interviews Intellidex’s Stuart Theobald.

Popular articles
Oscar's family unhappy with producers as movie makes SA debut this weekend

Oscar's family unhappy with producers as movie makes SA debut this weekend

The movie stars Joburg-born actor Andreas Damm as Pistorius and Victoria Secret model Toni Garrn as Reeva Steenkamp.

Statement to remove LLB programme from SA universities is misleading: Max Price

Statement to remove LLB programme from SA universities is misleading: Max Price

Max Price says Council on Higher Education's announcement that UKZN, UCT and UL could lose their LLB accreditation is not right.

DStv subscriber? ANN7 thanks you for the payday!

DStv subscriber? ANN7 thanks you for the payday!

Bruce Whitfield interviews Outa’s Wayne Duvenhage about his open letter to MultiChoice, who will pay ANN7 R245 million.

Is taking items from the hotel room stealing?

Is taking items from the hotel room stealing?

Tsogo Sun Cape regional manager explains which items are free to be taken home by guests and why.

WATCH: Innovative spray limits toilet flushes and saves water

WATCH: Innovative spray limits toilet flushes and saves water

Loo Me is a simple yet effective scented foam that takes the yuck out of "mellowing" toilets preventing multiple flushes.