JOHANNESBURG (miningweekly.com) – The Gupta family-owned Optimum Coal Mine is no longer financially distressed and can be discharged from business rescue.
The mine, which was acquired by the family's Oakbay Investments for R2.15-billion from Glencore earlier this year, will now continue to trade under the management and control of the board of directors of Optimum Coal Mine.
The mine’s business rescue practitioners (BRPs) on Wednesday filed notice of termination of the BRP proceedings with the Companies and Intellectual Property Commission, terminating the business rescue proceedings.