Glencore wanted to Bankrupt Eskom, Molefe tells Zondo commis

Glencore wanted to Bankrupt Eskom, Molefe tells Zondo commission


Glencore wanted to bankrupt Eskom, Molefe tells Zondo commission
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Gaopalelwe Phalaetsile
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Former Eskom CEO, Brian Molefe has defended his position in rejecting a coal price increase by Optimum Coal Mine (OCM) in 2015.
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OCM signed a 25-year contract with the power utility to supply coal at R150 per ton until 2018.
 
 
Molefe said the coal supply company was facing a financial crisis due to the international price of coal at the time.
 
He said this was not Eskom's problem as OCM had decided on its own to export coal when the initial plan was for it to only supply coal to the power utility.

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