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Claim that Glencore used Ramaphosa to strong-arm Eskom 'ridiculous'

10 June 2021 - 11:40
Glencore fell out with Eskom when it sought to have the coal price increased threefold in 2015. Stock photo.
Image: 123RF/adam88x
Former CEO at Optimum Coal Holdings, the holding company of Optimum Coal Mine an erstwhile coal supplier at Eskom Clinton Ephron, on Thursday dismissed allegations that Glencore used President Cyril Ramaphosa to strong-arm Eskom over an increase of the coal price.
Ephron is appearing at the state capture inquiry to respond to allegations against Glencore made by former Eskom executives Matshela Koko and Brian Molefe.
Koko and Molefe told the Zondo commission that the nexus of the collapse of the coal supply agreement between Eskom and Optimum was that Glencore, when it acquired Optimum, had not done due diligence because it counted on Ramaphosa to be a shield in getting its way with Eskom. ....

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RPT-China inspects for coal hoarding at northern ports - sources

China has sent officials to inspect coal inventories and crack down on illicit hoarding at ports, following a surge of physical coal prices and tight supplies in the market ahead of the peak consumption season. ....

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The true costs of coal mining in India | Eco India | DW

Mining coal is detrimental to the environment. But while policymakers and activists debate the development versus environment protection, communities who live close to mines face some devastating consequences. ....

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Coal Price Rally and Power Shortage Pose Risks for China's Economy

FOB prices at China's Qinhuangdao port surged due to tight supply, for 5500 kcal/kg thermal coal. ....

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UPDATE 1-South Africa's industrial activity slows as electricity woes hurt recovery

South Africa's monthly manufacturing output contracted in April and mining production slowed, as electricity outages hit the strong recovery in economic activity seen earlier in the year. ....

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