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Optimum Coal Mine – formerly owned by the infamous Gupta brothers – has paid back some R6.9 million in outstanding motor licensing fees and penalties as part of its Acknowledgement of Debt …
Liberty Coal has agreed a forfeiture settlement over Optimum coal mine whereby it will pay R462mn ($24.7mn) – or 44pc of the mine's current value of R1.05bn - to South Africa's …
In 2022, the National Director of Public Prosecutions (NDPP) brought two applications for the forfeiture of all shares in the Optimum Coal Mine (OCM) and Optimum Coal Terminal (OCT) at Richards ...
Optimum Coal Mine (Pty) Ltd, Optimum Coal Terminal (Pty) Ltd and Koornfontein Mines (Pty) Ltd are owned by entities linked to the controversial Gupta family. For this reason, all interested ...
BHP Billiton in respect of the Optimum Colliery (the right being notarially executed on 5 June 2008). By the time of the lodging of the appeal referred to below, however, it appears that mining was being conducted by Optimum Coal Mine (Pty) Ltd (the relationship between BHP Billiton and Optimum Coal Mine (Pty) Ltd is not clear).
A consortium led by state-owned mining company African Exploration Mining and Finance Corporation (AEMFC) has clinched a deal to recommence mining …
This is through a joint venture with Wescoal Mining (Pty) Ltd. In addition, we are contracted to process the run-of-mine and transport of the final product to the different markets. ... Following the acquisition of Shanduka Coal and Optimum Coal by commodities trader, Glencore, Mack was then recruited to become the Group Financial Manager for ...
Tegeta's assets include Optimum, Koornfontein Mine (Pty.) Ltd., Optimum Coal Terminal (Pty.) Ltd. and a share in Richards Bay Coal Terminal Co. Ltd., Klopper confirmed. Tegeta has been under administration since February 2018. Optimum was supplying coal to Eskom and was the subject of an investigation over allegations that …
Glencore has provisionally agreed to sell its troubled South African coal mine for 2.15 billion rand (£90.1 million), narrowly avoiding closing the operation and saving hundreds of jobs, the unit ...
Liberty Coal (Pty) Ltd (" Liberty Coal ") has recently postponed the launch of its acquisition of the business of Optimum Coal Mine (Pty) Ltd in business rescue (" OCM ") (see letter attached), which letter contains numerous misstatements and allegations concerning Richards Bay Coal Terminal (Pty) Ltd (" RBCT "), which we do not ...
Optimum Coal Mine (Pty) Ltd. Optimum Coal Mine (Pty) Ltd. Company Details. List two of your core business activities (1). Area Serviced. Pullenshope. Registration Number. 63/00537/06. Contact Information. Official Position. Manager. First Name. Vusi Zwane. Tel No. 0132965111. Cell No. 082898162. E-mail address.
Optimal Mining Solutions is a leading coal mining company based in The Gap, Queensland. Contact us for cost effective and efficient mine planning consulting. Speak to us on +61 7 3511 1786. ... Optimal Mining …
Glencore International plc ("Glencore") today announces its expression of interest in acquiring a controlling interest in Optimum Coal Holdings Limited ("Optimum", JSE:OPT), one of the largest producers of thermal coal in South Africa, through a consortium with its local Black Economic Empowerment partner, prominent South …
Optimum Coal Mine (Pty) Ltd Sep 2017 - Aug 2024 7 years. Engineering Manager Optimum Coal Nov 2015 - Aug 2017 1 year 10 months. Glencore Coal South Africa, Optimum Complex 5 years 4 months. Surface Operations Manager Glencore Coal South Africa, Optimum Complex ...
Liquidators Cloete Murray, Sivalutchmee Moodliar and Ndumiso Sibiya have publicly accused McGowen of being a Gupta associate, an allegation which the …
Note: The above section was automatically generated and is based on data from the GEM April 2024 Global Coal Mine Tracker dataset. Background. The Koornfontein coal mine is an opencast and underground mine near Witbank, in Mpumalanga province, South Africa. Mining has taken place within the Koornfontein complex since at least 1991, when …
Section 11 of the MPRDA to Optimum Coal. • The assets included Optimum Coal Mine, Brakfontein Mine, Koornfontein Mine and Idwala. • Optimum Coal Mine was acquired by Tegeta Exploration & Resources (Pty) Ltd through a sale transaction with Glencore in 2016 and a Section 11 consent was approved authorizing Glencore to
The Pretoria High Court has frozen the assets of the Optimum Coal Mine. They were on the verge of being sold by the business rescue practitioners to Liberty Coal, a company controlled by former ...
Liberty Coal, controlled by British businessman and former Gupta associate Daniel McGowan, is the new owner of Optimum Coal Mine (OCM) and the Optimum Coal Terminal (OCT) at Richards Bay.
Liberty Coal has reaffirmed its commitment to prioritising the re-employment of former employees who were retrenched by Optimum Coal Mine (Pty) Ltd (OCM). This is in accordance with the business rescue plan of OCM adopted by 88% of OCMs creditors in September 2020. Liberty Coal, however, emphasised that this process will require …
Liberty Coal had been just days away from taking ownership of the Optimum Coal Mine as part of a debt-to-equity arrangement - wherein it would convert its R1.3 billion claim into equity in the mine – when, on 23 March, the High Court granted the National Prosecuting Authority's Investigative Directorate a preservation order over the Optimum ...
The company, one of the biggest exporters of South African coal, announced in July it would cut 380 jobs at Optimum and shut part of the mine as coal prices slumped 32% since the start of 2014.
A mini-pit being mined by Liberty at the Optimum Coal Mine in December 2022. Bianke Neethling/News24 Read this for free South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism.
Glencore International plc (LON:GLEN), seeking access to the growing coal market in India and China, announced on Thursday an estimated $1 billion plan to acquire Optimum Coal Holdings (JNB:OPT ...
This comes after the National Prosecuting Authority (NPA) called for the business rescue process at the mine to be halted. It is reported that the NPA is intending to forfeit the assets of the mine, claiming that they are the proceeds of crime. The Optimum Coal Mine was placed under business rescue in 2018. About 4 500 workers who were ...
Liberty Coal, owned by Daniel McGowan's Templar Capital, will pay the Criminal Asset Recovery Fund R461 million to take control of Optimum Coal Mine as it exits a business rescue process that has …
station. In addition, Optimum wholly owns Optimum Coal Terminal (Pty) Ltd ("Optimum Coal Terminal") which in turn owns 8.68% of the issued share capital of Richards Bay Coal Terminal Company Limited ("RBCT Company"). There is an agreement between Optimum Coal Terminal and Optimum Coal Mine in terms whereof Optimum Coal Mine is …
The second application is brought against a Bermuda company called Templar Ltd, an international investment firm and the largest independent creditor in Optimum Coal Mine. The Templar claim is ...
EXPLORATION AND RESOURCES (PTY) LTD AS PER ANNEXURE B TO THE . NOTICE OF MOTION EIGHTH RESPONDENT . Neutral citation: Ragavan and Others v Optimum Coal Terminal (Pty) Ltd and Others (136/2022) [2023] ZASCA 34 …
Optimum Coal | 1,441 followers on LinkedIn. Integrity: Optimum coal values Loyalty and trust while honouring interests and undertakings made to others. ... Arnot Opco Coal Mine Mining Middelburg, Mpumalanga ... Johannesburg, Gauteng South32 Mining Perth, Western Australia Zinoju Coal Coal Mining