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Eskom challenges ‘unfair’ State capture claims 

By: Terence Creamer     19th April 2016 State-owned electricity utility Eskom has moved to challenge ongoing media reports suggesting that the company has been “captured by politically connected families and individuals” and has also called on its former chairperson to approach the law enforcement agencies if he has any information... 

Sale of Optimum Coal to Tegeta concluded

By: Terence Creamer     14th April 2016 The joint business rescue practitioners of Optimum Coal Holdings announced on Thursday that all outstanding obligations in respect of the sale of the assets of Optimum Holdings to Tegeta Exploration & Resources had been performed and that the transaction would become effective on April 15. Joint... 

Optimum rescue plan approved, as Guptas quit Tegeta holding company

By: Terence Creamer     8th April 2016 The business rescue plan for Optimum Coal Holdings was approved on Friday after the majority of creditors adopted the plan at a meeting of affected parties in Johannesburg. Joint business rescue practitioners Piers Marsden and Peter van den Steen said the plan was binding on all parties and that... 

Factual inaccuracies in media report, say Optimum Coal business rescuers

By: Megan van Wyngaardt     2nd February 2016 Optimum mine and Optimum Coal Holdings’ joint business rescue practitioners (BRPs) Piers Marsden and Peter van den Steen said on Tuesday that there had been “a number of factual inaccuracies” in a recent media report on the ongoing Endulwini Mining offer. The BRPs said that the report... 

Mining Minister says Glencore has alternatives to retrenchment 

By: Megan van Wyngaardt     5th August 2015 Mineral Resources Minister Ngoako Ramatlhodi says international mining giant Glencore should have looked at alternatives to retrenchments, including shifting workers to vacancies in other operations, before considering the potential retrenchment of about 1 000 workers. The Department of Mineral... 

Optimum mine right suspended, penalties may force R1/t coal supply 

By: Martin Creamer     4th August 2015 Financially stricken Optimum Coal has been hit by a double whammy – huge potential penalty claims from State electricity utility Eskom plus a suspension of its mining licence by the Department of Mineral Resources (DMR) for alleged inhumane retrenchment. In the face of these latest setbacks,... 

Optimum Coal heads for business rescue as Eskom plays hardball 

By: Martin Creamer     4th August 2015 Business rescue proceedings are to begin at both Optimum Coal Holdings and Optimum Coal Mine after attempts to renegotiate a 22-year-old lossmaking supply agreement with Eskom ended in the State electricity utility asserting its rights to past and future penalty claims. The penalties sought... 

Glencore Xstrata outlines integration initiatives

By: Natalie Greve     3rd May 2013 The newly formed Glencore Xstrata has confirmed that integration initiatives are under way, with clear leadership and reporting lines already in place and an industrial asset portfolio review currently in progress. The combination of commodities trader Glencore and producer Xstrata created a... 

Keaton Energy appoints new CEO

     6th June 2012 JSE-listed coal miner Keaton Energy appointed Rowan Karstel as its CEO to succeed Paul Miller with effect from July 1. Kastel is the former chief project officer of South Africa's sixth-largest thermal coal miner, Optimum Coal Holdings. He was responsible for the development and execution of... 

Company Announcement: Optimum Coal Funmatics Programme to revolutionise mathematics

     28th March 2012 The Optimum Community Trust unveils a new and revolutionary programme that seeks to change mental models, challenge mathematics phobias entrenched over a period of time, introduces new ways of stimulating learning and teaching to involve holistic development thus breaking psychological barriers... 

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